Indian rupee opens higher at 64.53 per dollar

The Indian rupee gained in the early trade on Thursday. It has opened higher by 6 paise at 64.53 per dollar versus 64.59 Wednesday.

Mohan Shenoi of Kotak Mahindra Bank said, "With buoyant equity markets, the rupee is expected to stay supported. USD-INR expected trading range for the day is 64.45-64.75."

He further added, "Crude oil prices beyond USD 60/bbl, uncertainty over terms of recap bonds, continuance of OMO and expectations of a steeper yield curve has made the sentiments in the GSEC market bearish. 10-year benchmark expected trading range for the day is 6.88-6.91 percent."

The dollar hovered near 3-month high versus the yen as investor optimism about the greenback rose ahead of major announcements on US fiscal and monetary policy after strong economic data.