|Day's range||64.4 - 64.853|
|52-week range||63.2100 - 67.0050|
"The dollar-rupee may show a different tendency given cues from overseas markets. He expects the pair to open above 64.50/USD today and trade in a range of Rs 64.40-64.60 per dollar," says Bhaskar Panda of HDFC Bank.
The Reserve Bank of India today fixed the reference rate of the rupee at 63.9097 against the US dollar and 80.1683 for the euro.
The USD-INR pair broke 64 on the downside yesterday and I expect the rupee appreciation trend to continue. See a range of 63.85-64.05 for the day, says Bhaskar Panda of HDFC Bank.
I expect the 10-year benchmark bond yield to remain within the 7.54-7.60 percent range for the day, says Bhaskar Panda of HDFC Bank.
In-line with the global trend, the rupee is expected to strengthen against dollar today with a trading range of between 63.85-64.15, says Mohan Shenoi of Kotak Mahindra Bank.
We expect the 10-year benchmark bond yield to trade in a range of 7.52-7.56 percent for the day, says Mohan Shenoi of Kotak Mahindra Bank.
Frantic capital outflows against the grim backdrop of a steep correction in domestic equities largely weighed on trading front even as fears deepened over speculation that US Federal Reserve may raise short-term interest rates.
Indian shares slid and the rupee weakened as a global market rout whacked sentiment, adding to existing investor concerns ahead of a central bank meeting this week and a new capital gains tax later in the year. The broader NSE Nifty and the benchmark BSE Sensex each fell about 1.6 percent on Tuesday, marking a sixth consecutive session of falls after earlier falling as much as 3.7 percent each. The slump in Wall Street overnight comes as India's record-setting share rally came under threat following the government's announcement of a 10 percent long-term capital gains tax in equities, which starts in April.
The Centre introduced long-term capital gains tax of 10 percent on stock market gains exceeding Rs 1 lakh, resulting in volatility in forex market.
Rice prices in India, the world's biggest exporter of the staple, extended a recent rally this week to reach their highest in 6-1/2 years on robust overseas demand and limited supply amid a stronger local currency. India's 5 percent broken parboiled rice prices rose by $3 per tonne to $447-$451, the maximum since September 2011, when India lifted a four-year-old ban on non-basmati rice shipments. India's rice exports likely jumped 22 percent in 2017 to a record 12.3 million tonnes as Bangladesh ramped up purchases.
The rupee weakened to 63.6650 from its 63.58 close on Wednesday, tracking a stronger dollar after the U.S. Federal Reserve signalled its confidence about inflation and growth in the world's biggest economy. Investors in India are keenly waiting to see how much India widens its fiscal deficit for the year starting in April, from the current projection of 3.0 percent of gross domestic product. "If the budget is committed to fiscal consolidation and there is no additional tax burden on capital market investments then it will be welcomed cheerfully by investors," said Sudhakar Pattabiraman, head of research operations at MarketSmith, which is part of financial services provider William O'Neil.