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."
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