The Indian rupee slipped in the early trade on Friday. It has opened lower by 5 paise at 67.12 per dollar versus previous close 67.07. Ashutosh Raina of HDFC Bank said, “The USD-INR pair has been trading in a very tight range recently, tracking global dollar weakness.
We expect the pair to trade in the 67-67.30/dollar range today with slight weakening bias.” The dollar weakened against a basket of major currencies, due to lower US bond yields and uncertainty over the timing of the Federal Reserve’s next interest rate increase.
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