Indian Rupee Gains In Early Trade As Dollar Weakens Marginally

After opening at 64.80 to the dollar, the Indian rupee gained marginally in early trade on Tuesday after the dollar index pared some of its gains from the previous session.

At 0936 IST, the rupee was trading at 64.77 to the dollar, 0.2 percent stronger than its previous close. The rupee is expected to weaken during Tuesday’s session as the dollar is likely to gain in markets across the globe, dealers said.

“The spectre of further US rate hikes has put EM currencies under limelight. USD-INR is expected to trade within 64.75-65 range for today,” said Bhaskar Panda of HDFC Bank.
  
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