Indian rupee opens higher at 65.10 per dollar

The Indian rupee opened higher by 7 paise at 65.10 per dollar on Monday versus 65.17 Thursday.

Pramit Brahmbhatt of Veracity said, “A correction is expected in the equity market today and in anticipation of the same, the rupee may trade with a flat to negative bias.”

“We expect the spot USD-INR to trade in a range of 65-65.50,” he added.

The US dollar fell after President Donald Trump said the United States would impose tariffs on steel and aluminium imports, sparking fears of a harmful global trade war.

Ajay Manglunia of Edelweiss said, “The bond markets are expected to continue with the negative bias amidst subdued participation. There are no major triggers lined up till next week’s inflation release and yields will track global markets, US treasury yields in particular.”

He further added, “The 10-year benchmark bond yield is likely to trade in a range of 7.72-7.77 percent today.”