Indian Rupee Range Bound In Early Trade As Inflation Concerns In Fed Minutes

The Indian rupee on Thursday opened at 64.75 against the dollar, marginally stronger than its previous close, after the release of minutes of the US Federal Reserve’s June meeting late Wednesday.

The minutes of the Fed meeting suggested that there were increased concerns among members about the outlook on inflation and how it might impact the timing of future increases in rates.

A few policy makers expressed their lack of comfort with the currently implied roadmap for increases in rates, given that inflation was still weak.

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