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The Indian rupee gained in the early trade on Monday. It has opened higher by 12 paise at 64.52 per dollar versus 64.64 Friday. "In the absence of any directional cue, the USD-INR pair will trade in a range of 64.50-64.80/dollar. However, technical bias would remain positive for the dollar." The dollar resumed its slide, notching its biggest weekly loss in nearly a year. The dollar held near six-month lows against a basket of currencies as investors assessed the impact of US political turmoil and a resurgent euro.
The Indian rupee gained in the early trade on Monday. It has opened higher by 12 paise at 64.52 per dollar versus 64.64 Friday. "In the absence of any directional cue, the USD-INR pair will trade in a range of 64.50-64.80/dollar. However, technical bias would remain positive for the dollar." The dollar resumed its slide, notching its biggest weekly loss in nearly a year. The dollar held near six-month lows against a basket of currencies as investors assessed the impact of US political turmoil and a resurgent euro.
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