Indian rupee opens flat at 64.17 per dollar

The Indian rupee opened flat at 64.17 per dollar on Wednesday against previous day close of  64.17.

The US dollar slumps against the euro and swiss franc after a spike higher in German bond yields overshadowed a similar rise in US treasury yields and generated demand for the European currencies. The dollar index dipped below 95 marks.

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NS Venkatesh of IDBI Bank said, "The USD-INR pair weakened yesterday mainly due to the weakness seen in emerging market currencies. Today we expect the USD-INR to gain some strength based on the cues from the bond markets as well as anticipated liquidity which is expected to follow with the possibility of a rate cut. The USD-INR is expected to trade in the range of 63.90-64.30/dollar today."