Pramit Brahmbhatt of Veracity said, "Rupee will appreciate and may test 64.20/dollar. Trading range for the spot USD-INR pair for the day will be 64.20-64.50/dollar."
The dollar was softer against a basket of rival currencies as the Federal Reserve's two-day policy meeting is underway and investors expect will conclude with an increase in interest rates.
According to Motilal Oswal currency report, the rupee continues to consolidate in a narrow range ahead of the two-day FOMC policy meeting that concludes today and we could continue to see the consolidation continuing for the pair in today’s session as well."
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