We expect the pair to appreciate gradually from this level and trade near 66-66.70/dollar level in near term with next big supports at 66.20/dollar and 65.80/dollar, says Ashutosh Raina of HDFC Bank.
The Indian rupee opened marginally lower at 66.58 per dollar on Tuesday against previous close of 66.53. Ashutosh Raina of HDFC Bank said, "The improved risk sentiment and pick up in portfolio flows has helped the USD-INR pair to settle near 66.50/dollar level, and lot of support has been seen around this level." "We expect the pair to appreciate gradually from this level and trade near 66-66.70/dollar level in near term with next big supports at 66.20/dollar and 65.80/dollar," he added.
The Dollar gained, as investors shook off dovish statements from the Federal Reserve.
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