Forex Market News

Rupee Gains Further In Early Trade, Opens At 64.32 Against US Dollar

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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