Indian rupee opens weak at 64.65 per dollar
We expect the rupee to consolidate for a while, says Pramit Brahmbhatt of Veracity.
The Indian rupee slipped in the early trade on Monday. It has opened lower by 10 paise at 64.65 per dollar versus 64.55 Friday.
Pramit Brahmbhatt of Veracity said, "It would be tough for the rupee to take out 64.50 percent mark as the dollar index is getting stronger. Hence, we expect the rupee to consolidate for a while."
"The trading range for the spot USD-INR pair is seen between 64.50-65," he said.
The dollar rose broadly on Friday after the release of US factory orders and services sector data that beat estimates, reversing an earlier slide after an underwhelming October jobs report.
Ajay Manglunia of Edelweiss said, "There are no major domestic or global triggers this week and yields are expected to be anchored to a narrow band till next week's inflation data release."
"The 10-year benchmark bond yield is likely to trade in a range of 6.84-6.89 percent today," he added.
