In early trade today, the value of rupees lower by 19 at 64.34 per US dollar
Mohan Shenoi of Kotak Mahindra Bank said, "The dollar weakened against most currencies due to political developments and mixed data from the US. The rupee is well supported on the back of custodial flows into the country."
"The USD-INR is expected to trade in a range of 64.10-64.40/dollar for the day."
Further added by him, "CPI inflation lower than market expectation, forecast of an above normal monsoon and fall in US treasury yields across the board has lifted sentiment in the bond market. We expect the 10-year benchmark bond yield to trade in a range of 6.62-6.67 percent for the day,"
Also Read:
Rupee up by 3 paise against dollar in early trade today