Forex Market News

Indian Rupee Opens Flat At 64.43 Per Dollar

The Indian rupee opened flat at 64.43 per dollar on Tuesday versus previous close 64.44. Bhaskar Panda of HDFC Bank said, “India story keeps the USD-INR rangebound. Expect a range of 64.35-64.55/dollar to play out for today.
He further added, “Retail inflation came below expectations. Rate cut hopes are now increasing. The 10-year benchmark yield is expected to trade within 6.50-6.52 percent for today.”
The dollar index, which measures the dollar against a basket of rival currencies, is marginally softer ahead of the FOMC meeting on Wednesday. While political uncertainty weighs on sterling.
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