Indian Rupee Opens Weaker Against Dollar At 64.63

The rupee on Tuesday opened at 64.63 to the dollar, down 0.2 percent from its previous close. On Monday, the rupee closed marginally weaker against the dollar at 64.50.

Bhaskar Panda of HDFC Bank said that the dollar index has firmed up a bit on the basis of political uncertainties in Europe. He said the USD-INR pair has been in consolidation mode around 64.50 to the dollar and that the same trend is likely to continue.

Panda added that the USD-INR is expected to trade between 64.45 and 64.70 in the immediate term.

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