The Indian rupee gained further in early trade Tuesday. It opened at 64.32 against the US dollar, up 4 paise compared with previous close of 64.36 a dollar.
Bhaskar Panda of HDFC Bank said the rupee has showed strength and is trading near the 64.30 a dollar pivot which is expected to hold. He expects USD-INR pair to trade within a range of 64.30-64.50 a dollar for the day.
Meanwhile, the dollar held firm after crawling away from an 18-day low against the yen thanks to a bounce in US yields, while the Australian dollar was steady ahead of a policy decision by the country’s central bank later in the day.
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