Moneycontrol
Jan 10, 2018 09:11 AM IST | Source: Moneycontrol.com

Indian rupee gains in opening trade at 63.68 per dollar

Trading range for the spot USD-INR pair will be 63.50-63.80, says Pramit Brahmbhatt of Veracity.

The Indian rupee opened higher at 63.68 per dollar on Wednesday versus previous close 63.71.

Pramit Brahmbhatt of Veracity said, "Rupee will trade on a flat note in absence of any cue. Trading range for the spot USD-INR pair will be 63.50-63.80."

The dollar edged higher against a basket of major currencies and hit an 11-day peak.

While the Japanese yen also strengthens after the Bank of Japan decided to reduce its purchases of long-dated government bonds.

Dhawal Dalal of Edelweiss AMC said, "Market participants will pay attention to the upcoming CPI as well as government auction on Friday to test the RBI's views on bond yield cut-offs."

"Expect the new 10-year bond to trade in a range of 7.15-20 percent in the near term," he added.

tags #Rupee

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