Rupee opens at 2-week high, gains 73 paise vs dollar

Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, says Motilal Oswal.

The Indian rupee gained in the early trade on Monday. It opened higher by 73 paise at 69.49 per dollar on Monday versus previous close 70.22.



On Friday, rupee consolidated in a narrow range ahead of the release of exit polls that were released last evening. Today, the rupee is expected to open higher against the dollar as exit polls suggest that the current ruling government could win another term with a thumping majority, said Motilal Oswal.

Equities, bonds as well as the rupee all are expected to open higher and could extend gains after the opening. Votes are set to be counted on May 23 and exit polls suggest a better showing for the NDA than what was expected in recent weeks.

Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, it added.

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