The Indian rupee on Wednesday opened at 64.91 to the dollar, 2 paise weaker than its previous close of 64.89. Pramit Brahmbhatt of Veracity said, “Pessimism which persists in the domestic equity market will be the reason for rupee to depreciate.
The spot USD-INR pair will trade in a range of 64.80-65.20/dollar today. The dollar held firm, rebounding from 6-1/2-month lows against its major peers thanks to a rise in US treasury yields, with investor focus now turning towards the Federal Reserve’s monetary policy stance.
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