The Indian rupee opened declined in the early trade on Friday. It has opened lower by 8 paise at 65.18 per dollar versus 65.10 yesterday.
Bhaskar Panda of HDFC Bank said, “The USD-INR pair will continue to be under a little bit of pressure due to month end/year-end demand. I expect the USD- INR to trade in a range of 65.10-65.30 for the day.”
“I expect the 10-year benchmark bond yield to trade in a range of 7.53-7.58 percent today,” he added.
Global trade war concerns a day after Fed’s message on 3 rate hikes push dollar index to one-month low. While the yen hit a 16-month high against the dollar as traders seek safety in the Japanese currency. The Hong Kong dollar fells to a new 33-year low.moneycontrol