Indian rupee opens lower at 63.67 per dollar

The Indian rupee opened lower at 63.67 per dollar on Wednesday versus previous close 63.60.

Pramit Brahmbhatt of Veracity said, “On the back of negative cues from domestic equity market, the rupee will remain under pressure.”

“We expect the USD-INR pair to trade in a range of 63.50-64,” he added.

Dhawal Dalal of Edelweiss AMC said, “Indian government bond yields have trended higher in-line with the recent trend in global bond yields. Market positions are getting lighter ahead of the Union Budget for FY19.”

“The 10-year benchmark bond yield closing above 7.41 percent on month-end may pave the way for further upward move in government bond yields from a technical perspective,” he added.