Indian Rupee Opens Lower At 65.39 Per Dollar

The Indian rupee opened marginally lower at 65.39 per dollar on Tuesday versus previous close 65.36.

Bhaskar Panda of HDFC Bank said, "The USD-INR pair has been consolidating in a narrow range of 65.30-65.50/dollar, supported on the downside by importer purchases and intervention. The pair is expected to trade within a range of 65.25-65.45/dollar for today."

The dollar remained in a defensive mode after Chicago Federal Reserve President Charles Evans reinforced the perception that the US Central Bank won't accelerate the pace of its interest rate hikes.

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