Wednesday, 14 February 2018

Indian Rupee Opens Higher By 16 Paise At 64.15 Per Dollar

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." 

"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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