The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 65.28 per dollar versus 65.42 Friday.
Pramit Brahmbhatt of Veracity said, “Considering 10-year bond as well as equity market movement, we are of the view that rupee will trade sideways in a range of 65.20-65.50/dollar.”
The US dollar took a spill in early Asian trade as investors in the region fretted about the chances of US fiscal stimulus following the defeat of President Donald Trump’s healthcare package.
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