We expect the pair to continue trading this range with appreciating bias in near term, says Ashutosh Raina of HDFC Bank.
The Indian rupee has opened with marginal gain of 3 paise at 66.40 per dollar on Tuesday versus 66.43 in previous session. Ashutosh Raina of HDFC Bank said the US dollar continues to lose as markets remain sceptical on improvement in the global economy, adding USD-INR pair continues to trade in the 66-67/dollar range with intervention at lower levels capping the gains.
He expects the pair to continue trading this range with appreciating bias in near term. The dollar was steady against the yen but not too far from a 17-month low. The dollar index is hovering near an eight-month trough.
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