Friday, 12 May 2017

Indian Rupee Rises higher at 64.33 per Dollar >> SUBSCRIBE US for Free Stock Cash Tips

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The Indian rupee opened higher by 5 paise at 64.33 per dollar on Friday versus previous close 64.38.

The economic data coming out of US lately has been generally better than expectations, strengthening the case for a June Fed rate hike. The dollar index is quietly clawing back to 100, and US bond yields are also quietly moving higher."

The USD-INR pair has been trading in the 64.20-64.70/dollar range on the back of resumption of some portfolio flows. Expected the pair to continue trading in this range, with a weakening bias.

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