Indian rupee opens higher 8 paise at 64.65 per dollar

The Indian rupee opened higher by 8 paise at 64.65 per dollar on Monday versus 64.73 Friday.

Pramit Brahmbhatt of Veracity said, “The rupee will see marginal positive impact in today’s session on back of positive cues from the domestic equity market.”

“We expect the USD-INR pair to trade in a range of 64.50-65,” he added.

The dollar gained against a basket of major currencies on Friday, extending its recovery from a three-year lows, as the potential for a more aggressive US Federal Reserve prompted investors to pare bearish bets against the greenback.

Ajay Manglunia of Edelweiss said, “US treasury yields have eased after the spike to 2.95 percent and this will provide some comfort to domestic bonds too. There are no major local triggers and bonds are expected to track any sharp moves in US yields, crude prices or the rupee.”

“The 10-year benchmark bond yield is likely to trade in a range of 7.64-7.69 percent today,” he added.