Rupee opens 11 paise higher at 64.80 against US dollar

The Indian rupee has opened at 64.80 against the US dollar, higher by 11 paise compared with previous day’s closing level of 64.91 a dollar.

Mohan Shenoi of Kotak Mahindra Bank said US FOMC minutes sounded caution on potential impact of sudden reversal of asset price inflation on growth.

Activity in the currency market is expected to be muted due to the Thanksgiving holiday in the US, according to him.

He feels the Rupee holds on to its gains registered post the Moody’s upgrade and is expected to trade today in the range of 64.65-64.95 against the US dollar.