Indian Rupee Opens Higher by 5 paise at 63.35 per Dollar
For USD-INR the expectations for intraday range would be within 63.30-63.50, says Ripples Advisory Private Limited.
The Indian Rupee gained in the early trade on Friday. It has opened higher by 5 paise at 63.35 per Dollar versus 63.40 Thursday.
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The Dollar is under pressure and Euro has been pushing higher. This trend is also well reflected in USD-INR pair as it has been trying to go towards 63.30.
Sources expected the same trend today and the intraday range would be within 63.30-63.50.
Indian 10-year benchmark yield has receded from recent highs. Today, the expected benchmark is yield to remain within 7.32-7.36 percent range for today.
The Dollar dropped against a basket of currencies after a modest recovery.
The positive employment data gave the dollar some support overnight, but the US currency failed to hold onto gains.
Meanwhile, the euro traded near its highest levels in three years boosted by Eurozone PMI data.
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