Rupee opens higher at 69.45 per dollar

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 Tuesday. It has opened higher by 20 paise at 69.45 per dollar versus previous close 69.65.


On June 10 the Indian currency erased al its day's gains and ended 19 paise lower at 69.65 against the US currency on the back of strengthening of the greenback against other Asian currencies and rising crude oil prices.

The rupee came under pressure in yesterday’s session ahead of the important inflation and industrial production number that will be released tomorrow. The dollar also rose against its major crosses that weighed on rupee as well as other Asian currencies, said Motilal Oswal.

For the day, volatility could remain low as market participants will be cautious ahead of the important economic numbers. USD-INR pair is expected to quote in the range of 69.20 and 69.90, it added.

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