Trading range for the day will be 66.80-67.50/dollar, says Pramit Brahmbhatt of Veracity.The Indian rupee opened marginally higher at 67.35 per dollar on Wednesday versus previous close of 67.38. Pramit Brahmbhatt of Veracity said,
"Weakness in global equity market will cause weakness in domestic equity market and rupee will depreciate further continuing with yesterday's pain. A levels of 67.50/dollar will have meaningful support for rupee."
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"Moreover, ahead of key event fed interest rate decision lined up on Wednesday, we foresee rupee to trade with volatility." "Trading range for the day will be 66.80-67.50/dollar," he added.
The dollar was in a holding pattern as markets waited for fresh guidance from the Federal Reserve.
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