USD-INR trading range for the day is 64.50- 64.80/dollar, says Mohan Shenoi of Kotak Mahindra Bank.
The Indian rupee slipped in the early trade on Thursday. It has opened lower by 8 paise at 64.66 per dollar versus 64.58 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, "Rupee is rangebound, consolidating after sharp gains in March. USD-INR trading range for the day is 64.50- 64.80/dollar."
The dollar rose, a day after dropping to a 3-week low, but gave up some gains after a report from the Federal Reserve suggested the outlook for the US economy isn't as rosy as it was earlier in the year.