Indian Rupee opens higher at 65.36 per Dollar

Intraday trading tips

Expected spot USD-INR pair to trade in a range of 65.20-65.50 for the day, Ripples Advisory Private Limited, Indore

 

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The Indian Rupee opened higher by 9 paise at 65.36 per Dollar on Wednesday versus previous close 65.45.

The Rupee may find support at 65.50. Expected the spot USD-INR pair to trade in a range of 65.20-65.50 for the day.

The US Dollar was underpinned by remarks from the Federal Reserve chief on the need to continue with rate hikes, while the euro licked the wounds from political uncertainty following the German election at weekend.

Hawkish Fed and rising oil on the global front and uncertainty on the shape of fiscal stimulus, bank recapitalization bonds & deterioration of key economic parameters have muddied the sentiment in the bond market.

Expected the 10-year benchmark bond yield to trade in the range of 6.60-6.70 percent in the near term.

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