Expect the rupee to trade in a range of 63.80-64.25/dollar today, says Mohan Shenoi of Kotak Mahindra Bank.
The Indian rupee slipped in early trade on Thursday. It has opened lower by 19 paise at 64.09 per dollar against 63.90 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, "Weak equity and bond markets in India are resulting in dollar buying by custodial banks resulting in pressure on rupee. However, Reserve Bank of India (RBI) action is tempering the rupee weakness. Expect the rupee to trade in a range of 63.80-64.25/dollar today."
Dollar traded flat against euro after the Federal Reserve said US economic growth remained tepid.