Moneycontrol
Jun 19, 2017 09:43 AM IST | Source: Moneycontrol.com

Indian rupee opens flat at 64.42 per dollar

Expect USD-INR to continue to trade in a range of 64.20-64.80/dollar, says Pramit Brahmbhatt of Veracity.

Indian rupee opens flat at 64.42 per dollar

The Indian rupee opened flat at 64.42 per dollar on Monday versus 64.43 Friday.

Pramit Brahmbhatt of Veracity said, "We have a neutral stance on the USD-INR pair in absence of any directional cues and expect it to continue to trade in a range of 64.20-64.80/dollar."

According to Ajay Manglunia of Edelweiss, bond yields have been in a narrow range of late and in the absence of near-term triggers this trend should continue with a positive bias."

"We expect the 10-year benchmark bond yield to trade in a range of 6.46-6.51 percent today," he added.

The dollar steadied against a basket of currencies after slipping on soft US economic data, with investors awaiting comments by a top Federal Reserve official for clues on whether recent strength can be sustained.
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