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.

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.

tags #Rupee

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