Forex Market News

Indian Rupee Opens At 64.06 Per Dollar

The Indian rupee opened flat at 64.06 per dollar on Tuesday versus previous close 64.06. Bhaskar Panda of HDFC Bank said, “The rupee has been supported by global cues as well as firm flows from FIIs and FDI. Today, I expect the USD-INR pair to trade in a range of 63.95-64.20/dollar range.”

He further added, “The 10-year benchmark yield had come down after favourable CPI and WPI data and it may remain within the 6.80-6.82 percent range.”
Dollar weakened against a major basket of currencies after a weaker than expected US economic data dampened the outlook for the pace of further tightening by the Federal Reserve this year.
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