Indian Rupee opens higher at 65.33 per Dollar

Indian stock market

In USD-INR, some amount of consolidation will now happen around the 65.50 pivot as global crude prices remain elevated and West Asian tension takes its toll.


The Indian Rupee opened higher by 9 paise at 65.33 per Dollar on Tuesday versus 65.42 Monday.

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The Dollar index has steadied as US lawmakers parry on the final shape of tax reforms. Rising US yields has also helped.

For the USD-INR, some amount of consolidation will now happen around the 65.50 pivot as global crude prices remain elevated and West Asian tension takes its toll. Expected a range of 65.35-65.60 to hold for today.

Retail Inflation has now risen to 3.58 percent, increasing at a faster pace. The yields also have been rising pushing the 10-year benchmark bond yield towards 7 percent. I expect a range of 6.96-7 percent for today.

The Dollar got support from higher US Treasury yields in early trading, while sterling arrested a recent slide, which followed concerns about Theresa May’s ability to stay on as British Prime Minister.


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