The Indian rupee opened marginally higher at 64.32 per dollar on Tuesday against previous close 64.35. Bhaskar Panda of HDFC Bank said, “After prolonged battering, the dollar index seems to be recovering a bit.
The USD-INR pair though has been behaving pretty independently as the pair tries to remain above 64.30/dollar level.””We expect the pair to again trade in a range of 64.30-64.50 for the day.”
“We expect the 10-year benchmark bond yield to trade within a range of 6.44-6.47 percent today,” he added. The dollar index, which measures the dollar against a basket of currencies trades near a 10-month low but steady against the Japanese yen.
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