The Indian rupee declined in the early trade. It has opened lower by 12 paise at 64.66 per dollar, lowest level since May 30, against 64.54 on Thursday.
Ashutosh Raina of HDFC Bank said the shrinking of Fed balance sheet can impact the EM currencies including rupee, and one can expect some weakness going ahead.
He expects the USD/INR currency pair to trade in 64.40-64.70/dollar range today.Indexes in Asia traded mixed following the declines in tech stocks on Wall Street and the Bank of Japan announced monetary policy.
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