Moneycontrol
Jan 12, 2018 09:11 AM IST | Source: Moneycontrol.com

Indian rupee gains 6 paise at 63.60 in early trade

Expect USD-INR pair to trade within 63.50-63.75 for the day, says Bhaskar Panda of HDFC Bank.

The Indian rupee opened higher by 6 paise at 63.60 per dollar on Friday against previous close 63.66.

Bhaskar Panda of HDFC Bank said, "Spot USD-INR has been see-sawing in the last few trading sessions basis both India positive news flows and movement in dollar index. Expect USD-INR pair to trade within 63.50-63.75 for the day."

He further added, "The Indian 10-year benchmark yield has again started moving higher. Expect a range of 7.42-7.45 percent for today,"

The dollar index, which tracks the US currency against a basket of major currencies edges lower on back of weak factory inflation data, while euro strengthens after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus.

tags #Rupee

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