Monday, 22 May 2017

The Indian Rupee Gained In The Early Trade On Monday

The Indian rupee gained in the early trade on Monday. It has opened higher by 12 paise at 64.52 per dollar versus 64.64 Friday.

Pramit Brahmbhatt of Veracity said, "In the absence of any directional cue, the USD-INR pair will trade in a range of 64.50-64.80/dollar. However, technical bias would remain positive for the dollar."

On the global front, Asian equities traded mostly higher on Monday, following the continued recovery on Wall Street last week and as investors digest yet another missile test out of North Korea at the weekend.

The hermit state said the missile test on Sunday involved an intermediate-range ballistic missile, according to Reuters. North Korean state media said leader Kim Jong Un had "approved the deployment" of the missile, Reuters said.

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