Rupee opens marginally higher at 66.9 per dollar

Moneycontrol Bureau

The Indian rupee has opened marginally higher at 66.9 per dollar on Wednesday compared to 66.92 a dollar in previous session.

NS Venkatesh, IDBI Bank says the rupee closed stronger in previous session but the market is nervous ahead of the FOMC decisions and will be closely tracking movements in other EM currencies.

He expects a narrow range for the rupee between Rs 66.90-67.05/USD today.In case of bonds, Venkatesh says the 10-year benchmark yield closed lower yesterday.

According to him, the market is expected to trade with thin volumes ahead of the Fed meet and will take cues from the USD-INR movement.

The 10-year benchmark yield is expected to trade between 7.79-7.81 percent, he says.