Indian Rupee slips 12 paise, opens at 63.69 per Dollar

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The USD-INR pair is expected to remain in a range of 63.50-63.70 for today, says Ripples Advisory Private Limited.

The Indian Rupee slipped in the early trade on Tuesday. It has opened lower by 12 paise at 63.69 per Dollar on Tuesday versus previous close 63.57.

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The Dollar index has been under pressure from the beginning of 2018. As a result, EM currencies have gained including the INR.”

“Given the indications, the USD-INR pair is expected to remain in a range of 63.50-63.70 for today.”

The 10-year benchmark bond yield has remained elevated and will continue to remain so, given the global cues. The expected benchmark yield to remain in a range of 7.43-7.46 percent for today.

The US Dollar surged against a basket of currencies as bond yields climbed and traders await important cues from the 2-day Federal Reserve meeting and a US jobs report later in the week.

The Euro and pound weaken in trade. The Dollar index gains finally after six consecutive weeks of losses.


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