Moneycontrol
Aug 11, 2017 09:07 AM IST | Source: Moneycontrol.com

Indian rupee opens at 64.20 per dollar, slips 12 paise

The Indian rupee opened lower by 12 paise at 64.20 per dollar on Friday versus previous close 64.08.

Indian rupee opens at 64.20 per dollar, slips 12 paise

The Indian rupee opened lower by 12 paise at 64.20 per dollar on Friday versus previous close 64.08.

On Thursday rupee has registered a biggest single session fall against dollar since July 3 as it was ended at 64.08 versus Wednesday's close of 63.83.

The dollar fell to eight-week low against the yen as escalating tensions between the United States and North Korea triggered yet more investor flight to safety.

Bhaskar Panda of HDFC Bank said, "USD-INR danced to both global risk-off and local issues including Dokalam issue. Technically, rupee continued to close above 63.80 which puts focus back on 64.30. Hence, expect USD-INR pair to trade within a range of 64-64.20 today."

He further added, "The 10-year benchmark yield responded to Indo-China border news and closed higher on Thursday. It is expected to remain within the 6.45-6.50 percent range today if no more escalation comes through."
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