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Indian rupee opens higher at 65.36 per dollar.


Date: 27-09-2017
Subject: Indian rupee opens higher at 65.36 per dollar
Indian rupee opens higher at 65.36 per dollar

The Indian rupee opened higher by 9 paise at 65.36 per dollar on Wednesday versus previous close 65.45.

Pramit Brahmbhatt of Veracity said, "The rupee may find support at 65.50. We expect the spot USD-INR pair to trade in a range of 65.20-65.50 for the day."

The US dollar was underpinned by remarks from the Federal Reserve chief on the need to continue with rate hikes, while the euro licked the wounds from political uncertainty following the German election at weekend.

Dhawal Dalal of Edelweiss AM said, "Hawkish Fed and rising oil on the global front and uncertainty on the shape of fiscal stimulus, bank recapitalisation bonds & deterioration of key economic parameters have muddied the sentiment in the bond market."

He further added, "We expect the 10-year benchmark bond yield to trade in the range of 6.60-6.70 percent in the near term."

Source: moneycontrol.com

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