Indian rupee opens higher at 64.55 per dollar


Nov 03, 2017 09:02 AM IST | Source: Moneycontrol.com

In today’s trade, expect the USD-INR pair to trade in a range of 64.50-64.75, says Bhaskar Panda of HDFC Bank.

The Indian rupee opened higher at 64.55 per dollar on Friday versus previous close 64.61.

Bhaskar Panda of HDFC Bank said, “Healthy flows into India has kept the rupee stronger against the US dollar. Today, expect the USD-INR pair to trade in a range of 64.50-64.75.”

“The 10-year benchmark yield for Indian paper is expected to trade within a range of 6.84-6.87 percent for today,” he added.

The dollar fell to its lowest in a week against a basket of major currencies after republicans in the US house of representatives released proposals to overhaul the tax code. The dollar index fell to 94.411, its lowest since October 26