Moneycontrol
Dec 07, 2017 09:01 AM IST | Source: Moneycontrol.com

Indian rupee opens at 64.50 per dollar

Rupee will be stable in the range of 64.30-64.70 for the day, says Ajay Manglunia of Edelweiss.

Moneycontrol News @moneycontrolcom

The Indian rupee opened marginally higher at 64.50 per dollar on Thursday against previous close 64.52.

Ajay Manglunia of Edelweiss said, "Do not expect any RBI action for a while. Clarity expected only after December w.r.t additional borrowing. Rupee will be stable in the range of 64.30-64.70 for the day."

"Bond market was relieved in absence of a hawkish stance by RBI. Yields on G-Sec likely to be in range of 7-7.07 percent," he added.

The dollar edged higher against a basket of major currencies on optimism about progress on US tax legislation and lawmakers' efforts to avert a US government shutdown on Saturday.

tags #Rupee

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