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The Indian rupee opened marginally lower at 68.10 per dollar on Wednesday versus previous close 68.07. Rupee will continue to trade negative with low volatility due to an appreciating dollar. Trading range for the spot USD/INR pair would be 68-68.20/dollar. The US dollar gained against the yen on stronger-than-expected US housing data and expectations for a hawkish Federal Reserve, but remained below a recent 10-month high in thin holiday trading.
The Indian rupee opened marginally lower at 68.10 per dollar on Wednesday versus previous close 68.07. Rupee will continue to trade negative with low volatility due to an appreciating dollar. Trading range for the spot USD/INR pair would be 68-68.20/dollar. The US dollar gained against the yen on stronger-than-expected US housing data and expectations for a hawkish Federal Reserve, but remained below a recent 10-month high in thin holiday trading.
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