Moneycontrol
Nov 14, 2017 09:03 AM IST | Source: Moneycontrol.com

Indian rupee opens higher at 65.33 per dollar

In USD-INR, some amount of consolidation will now happen around the 65.50 pivot as global crude prices remain elevated and West Asian tension takes its toll, says Bhaskar Panda of HDFC Bank.

Moneycontrol News @moneycontrolcom

The Indian rupee opened higher by 9 paise at 65.33 per dollar on Tuesday versus 65.42 Monday.

Bhaskar Panda of HDFC Bank said, "The dollar index has steadied as US lawmakers parry on final shape of tax reforms. Rising US yields has also helped."

"For the USD-INR, some amount of consolidation will now happen around the 65.50 pivot as global crude prices remain elevated and West Asian tension takes its toll. I expect a range of 65.35-65.60 to hold for today."

"Retail Inflation has now risen to 3.58 percent, increasing at a faster pace. The yields also have been rising pushing the 10-year benchmark bond yield towards 7 percent. I expect a range of 6.96-7 percent for today.

The dollar got support from higher US treasury yields in early trading, while sterling arrested a recent slide, which followed concerns about Theresa May's ability to stay on as British Prime Minister.

tags #Rupee

Sections
Follow us on
Available On