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Indian rupee opens lower at 65.22 per dollar

The dollar index is consolidating around 89.85 levels ahead of the Fed meeting and a tariff war.

The Indian rupee opened lower 5 paise at 65.22 per dollar on Tuesday versus 65.17 yesterday.Bhaskar Panda of HDFC Bank said, “The dollar index is consolidating around 89.85 levels ahead of the Fed meeting and a tariff war. The USD-INR pair is consolidating around 65 pivots. I expect a little higher range between 65.10-65.30 for the day.”

He further added, “The 10-year Indian benchmark bond yield has started looking up after touching lows recently. I expect a range play within 7.58-7.65 percent for the day.”

The dollar held steady recovering a tad from overnight lows ahead of the Federal Reserve meeting.

Meanwhile, the euro strengthened following news that the European Central Bank was steadily focusing more on the discussion on future interest rates.

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