Indian Rupee Opens higher at 63.85 in early Trade
Fall in Dollar index was stalled on the expectation of passage of a temporary bill to avoid US Federal shutdown. The Rupee is expected to be in a broad range of 63.50-64.20 awaiting further triggers from the Union Budget.
The USD-INR pair is expected to trade in a range of 63.70-64 for the day.
“The reduction of additional government borrowing to Rs 20,000 cr from earlier Rs 50,000 cr has resulted in improved sentiment in the local bond market.”
The expected 10-year benchmark bond yield to trade in a range of 7.20-7.25 percent for the day.