The Indian rupee opened higher by 16 paise at 64.15 per dollar on Wednesday versus 64.31 Monday.
Pramit Brahmbhatt of Veracity said, "We expect the rupee to trade sideways with a positive bias in absence of any directional cues."
Pramit Brahmbhatt of Veracity said, "We expect the rupee to trade sideways with a positive bias in absence of any directional cues."
"The trading range for the spot USD-INR pair is seen between 64-64.50," he added. The US dollar continued to show weakness as the yen hits a 5-month high. Broad-based selling in the greenback and speculation that the Bank Of Japan will dial back the monetary stimulus pushed the yen higher.
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