The Indian rupee opened lower by 8 paise at 64.63 per dollar on Tuesday versus previous close 64.55.
Bhaskar Panda of HDFC Bank said, “USD-INR pair bounced back from recent lows and is expected to move towards 65/dollar in due course of time. Today the pair is expected to trade within a range of 64.40-64.60.
He further added, “The 10-year benchmark yield is expected to trade within a range 6.76-6.78 percent. The yield is expected to soften further. The euro hovers near a six-month high against the dollar after German Chancellor Angela Merkel said the currency was “too weak”. The pound however sags against the yen after the blast in Manchester killed at least 19 people.