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Rupee Gains 17 paise; Opens at 68.26 per Dollar

Rupee Gains 17 paise; Opens at 68.26 per Dollar

The USD-INR pair will trade in the 67.50-68.50/dollar range in the near-term, with some appreciating bias,says Ashutosh Raina of HDFC Bank.

The Indian rupee gained 17 paise in the early trade on Tuesday. It has opened at 68.26 per dollar versus 68.43 Monday. Ashutosh Raina of HDFC Bank said, “The fiscally prudent Budget and expectations of further monetary easing by Reserve Bank of India (RBI) helped both currency and bond markets.” “The USD-INR pair will trade in the 67.50-68.50/dollar range in the near-term, with some appreciating bias,” he added.

“The USD-INR pair will trade in the 67.50-68.50/dollar range in the near-term, with some appreciating bias,” he added. The yen rose broadly as investors sought its safety following a statement from the group of 20 countries that offered no concrete action to address concerns about slow growth and low inflation.

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