Weak trend in the dollar index may keep dollar under pressure against a stronger rupee. Range for the day is seen between 59.88-60.25/dollar, says Himanshu Arora of Religare.
The Indian rupee opened flat at 60.06 per dollar versus 60.07 Tuesday. The dollar index inched up to 79.82 mark from a two-month low while against the yen, the greenback edged up to 101.54 from Tuesday's low. USD-INR pair is expected to trade lower today as dollar inflows into the country may continue supporting the rupee. Also long list of expectations from Union Budget may keep rupee underpinned. Along with that, weak trend in the dollar index may keep dollar under pressure against a stronger rupee. Range for the day is seen between 59.88-60.25/dollar.
The Indian rupee opened flat at 60.06 per dollar versus 60.07 Tuesday. The dollar index inched up to 79.82 mark from a two-month low while against the yen, the greenback edged up to 101.54 from Tuesday's low. USD-INR pair is expected to trade lower today as dollar inflows into the country may continue supporting the rupee. Also long list of expectations from Union Budget may keep rupee underpinned. Along with that, weak trend in the dollar index may keep dollar under pressure against a stronger rupee. Range for the day is seen between 59.88-60.25/dollar.
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