Indian Rupee Opens at 64.50 per Dollar

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Rupee will be stable in the range of 64.30-64.70 for the day, says Ripples Advisory Private Limited.


The Indian Rupee opened marginally higher at 64.50 per Dollar on Thursday against previous close 64.52.

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Ajay Manglunia of Edelweiss said, “Do not expect any RBI action for a while. Clarity expected only after December w.r.t additional borrowing. Rupee will be stable in the range of 64.30-64.70 for the day.”

“Bond market was relieved in absence of a hawkish stance by RBI. Yields on G-Sec likely to be in the range of 7-7.07 percent,” he added.

The Dollar edged higher against a basket of major currencies on optimism about progress on US tax legislation and lawmakers’ efforts to avert a US government shutdown on Saturday.


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