The Indian rupee gained in the early trade on Friday. It has opened higher by 15 paise at 67.95 per dollar versus 68.10 Thursday. Bhaskar Panda of HDFC Bank said, “Festive fervour is the theme right now across the world. The dollar index has given up some of the recent gains and is trading below 103. EM currencies are still under cloud.
USD-INR is expected to trade within 67.80-68.10/dollar range,” he added. The US dollar slipped against the yen and the euro as traders use the quiet holiday period to take profits on the dollar’s recent gains, while a drop in US treasury yields on waning risk appetite reduced the greenback’s appeal.
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