Indian rupee opens higher by 6 paise at 68.37 per dollar

MUMBAI: The Indian rupee opened higher by 6 paise at 68.37 per dollar on Thursday versus previous close 68.43.

Rupee rose against the US dollar in the latter half of the session after the RBI considered raising rates by 25 bps but retained its neutral stance as it aimed to contain inflation while not choking growth. It’s the second straight meeting that RBI raised rates but retained its stance Neutral.

While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain broadly unchanged, said Motilal Oswal.

Today, USD-INR pair is expected to to quote in the range of 68.30 and 68.75, it added.

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