Tuesday, 2 May 2017

Indian rupee opens higher at 64.18 per dollar

The Indian rupee opened marginally higher at 64.18 per dollar on Tuesday versus 64.24 Friday. Bhaskar Panda said, "US yields rose on Monday on the back of Mnuchin's comments. But Dollar index remained glued just above the 99 mark." "The USD-INR pair has been consolidating above the 64/dollar mark. Today, I expect the pair to start around 64.25/dollar level and trade in an intraday range of 64.15-64.35/dollar range." "The 10-year benchmark yield is expected to trade within the 6.95-97 percent range,".

The dollar hit a one-month high against the yen on Tuesday, lifted by treasury yields which surged after US Treasury Secretary Steven Mnuchin commented on the possibility of Ultra long-term bond issuance.

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