The Indian rupee opened flat at 66.92 per dollar on Wednesday against previous close 66.93. The Yellen testimony shows a higher probability of a rate increase sooner than later and hence will impact both the equity and currency markets. The USD-INR is expected to trade in a range of 66.78-67.08/dollar today.
The dollar rose to a three-week peak against a basket of major currencies as investors raised their outlook on a faster pace of us interest rate increases.
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