Ripples Advisory: Indian rupee opens higher at 64.78 per dollar

I expect another day of consolidation in a range between 64.80-65 for today…

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The Indian rupee opened 9 paise higher at 64.78 per dollar on Tuesday versus the previous close at 64.87.

Bhaskar Panda of HDFC Bank said, “Risk appetite has made a comeback after trade war shock was absorbed by the markets. This has rubbed off on the USD-INR pair along with other Asian currencies. I expect another day of consolidation in a range between 64.80-65 for today.”

“The central government declared it’s borrowing calendar which indicated that the Government will raise around Rs 2.88 tn in the first half of next fiscal. Though the 10-year benchmark bond yield had tightened and moved past 7.61 percent, I expect it to stay within 7.55-7.65 percent range,” he added.

The dollar index fell to a 5-week low against a major basket of currencies with the yen also slipping on optimism that rising tension of trade war between US and China is beginning to ease.

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The stock market refers to any market arena where dealings of securities including equities, bonds, currencies, and derivatives occurs. Ripples Advisory Private Limited, Indore is the one who undertakes a wide range of competence, and our client’s services are boosts by our knowledge of regional risks and markets to inform the quirky financial, risk managing and regulatory appeals that they face.
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