The Indian rupee gained in the early trade on Friday. It has opened higher by 4 paise at 64.04 per dollar versus 64.08 Thursday. HDFC Bank said, We expect the USD-INR pair to trade within a range of 64-64.15 for the day. He further added, Speculation about possible higher government borrowing is keeping bond markets guessing. The yields have shot up and may now be moving higher.
The 10-year benchmark bond yield may inch towards the 7.50 percent mark slowly. We expect the 10-year benchmark yield to remain within the 7.36-7.45 percent range today. The dollar weakened to trade near a one-month low against a basket of currencies.
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