Expect rupee to open around 66.89/$: StanChart

Agam Gupta of Standard Chartered Bank expects the USD-INR pair to open around 66.89 a dollar as market tests the highs traded on Friday.

He says range for the day should be 66.65-67.10 a dollar and there could be a technical move up to 67.00-67.10 a dollar.

He expects local government banks to supply dollar above 67 a dollar. "We also anticipate exporters to be active sellers of dollar on upticks as they hedge their dollar receivables," he says.

On the downside, the rupee could dip to 66.65-66.70 a dollar where demand from importers should come in.