Indian Rupee opens higher at 64.25 per Dollar

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The Indian Rupee gained in the early trade on Wednesday. It has opened higher by 8 paise at 64.25 per Dollar versus 64.33 Tuesday.

Technically, Dollar has become stronger. Moreover, massive the outflows by FIIs will keep the Rupee under pressure. Thus, trading range for the spot USD-INR pair will be 64-64.50.

The Dollar weakened against a basket of currencies as traders look to Fed for more clues. Analysts widely anticipate Fed policymakers to announce a lowering of monthly bond purchases, starting in October.