Indian rupee opens higher at 64.93 per dollar

The Indian rupee opened higher by 8 paise at 64.93 per dollar on Monday versus 65.01 Friday.

Pramit Brahmbhatt of Veracity said, "Rupee will take negative cues from the domestic equity market. We expect the USD-INR to trade in a of 64.80-65.20 for the day."

Trade war fears push dollar to one-month low as investors are worried that trade war tensions may escalate with the yen soaring to a 16-month high against the dollar.

Ajay Manglunia of Edelweiss said, "Gilts were stable amidst the global equity sell-off but the trade war concerns will dominate and contribute to volatility across asset classes. Domestic bonds, however, will be more focused on the release of the RBI borrowing calendar and fiscal year-end related market activity.”