Moneycontrol
Oct 11, 2017 09:03 AM IST | Source: Moneycontrol.com

Indian rupee opens higher at 65.22 per dollar

We expect the spot USD-INR pair to trade in a range of 65-65.50, says Pramit Brahmbhatt of Veracity.

The Indian rupee opened higher at 65.22 per dollar against previous close 65.28.

Pramit Brahmbhatt of Veracity said, "The USD weakening against its peers will give strength to the rupee. We expect the spot USD-INR pair to trade in a range of 65-65.50."

The dollar index continued to weaken, pressured by a resurgence of geopolitical tensions with North Korea.

The euro hit a one-week peak as Germany raked up its best month for exports in a year in August and expectations grew that the European Central Bank may consider scaling back its asset purchases.

Dhawal Dalal of Edelweiss AMC said, "Government bond prices stabilised after days of sliding as value buying emerged after clearing of SDL auction yesterday. Bond market participants will focus on the series of economic data due this week."

"We expect the 10-year benchmark bond yield to trade in a 6.70-6.80 percent range in the near term," he added.

tags #Rupee

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