Indian rupee opens lower at 65.06 per dollar


The Indian rupee declined in the early trade on Friday. It has opened lower by 12 paise at 65.06 per dollar versus 64.94 Thursday.

Bhaskar Panda of HDFC Bank said, “The concerns over the final shape of US tax reforms weighed on the dollar index. It may have temporary impact on emerging markets.”

“As far as USD-INR goes, the pair to trade in a range of 64.90-65.10 for today.”

“The 10-year benchmark bond yield is inching up towards the 7 percent mark. For today, it may trade within a range of 6.92-6.95 percent,” he added.

The dollar trades weak, on track for weekly losses after dropping on disappointment with a tax bill put forth by US senate republicans that would delay expected corporate tax cuts.