The market participants will keenly await the Reserve Bank of India (RBI) policy announcement tomorrow and we expect trade to be rangebound ahead of the RBI meet.
The Indian rupee has opened marginally higher by 5 paise at 66.11 per dollar on Monday versus 66.16 Thursday.There should be interest from importers and local government banks to buy USD on dips to 65.90 levels. Any upticks to 66.30 will attract interest from exporters to hedge their future dollar receivables."
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