Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

Indian rupee gains 8 paise Vs dollar in early trade

We expect the USD-INR to trade within a range of 64.45-64.60/USD for today, says Bhaskar Panda of HDFC Bank.

July 11, 2017 / 09:02 AM IST

The Indian rupee opened on positive note in the early trade on Tuesday. It has gained 8 paise at 64.45 per dollar versus previous close 64.53.

Bhaskar Panda of HDFC Bank said, "The bounceback in the dollar index seems to have gone into consolidation mode and EM currencies have shown a relatively stronger bias against the dollar. Given this background, the spot USD-INR has recovered from recent high."

"We expect the pair to trade within a range of 64.45-64.60/USD for today."

"The 10-year benchmark bond yield is expected to trade within 6.45-6.48 percent today. The market will await new cues before taking any sides," he added.

The dollar index, which measures the dollar against a basket of currencies remained firm. However, the greenback climbs to two-month high versus yen following lower-than-expected core machinery orders for May.

Tags: #Rupee
first published: Jul 11, 2017 09:00 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347