Rupee opens higher, below 69 for the first time since April

Today, USD-INR pair is expected to quote in the range of 69.05 and 69.70, says Motilal Oswal.

The Indian rupee opened higher at 69.01 per dollar on Friday against previous close 69.06.


The rupee has slipped below 69 per dollar mark for the first time since April 11.

On June 27 the Indian rupee ended 8 paise higher at 69.06 against the US dollar on the back of easing crude oil prices and weaker greenback.

The rupee rose against the US dollar for the third successive sessions despite broad strength in the greenback against its major crosses. On the domestic front, market participants could remain cautious ahead of the important G20 meeting that is scheduled during the weekend, said Motilal Oswal.

Meeting between the US and Chinese leader will be majorly in focus and could bring in volatility for the currencies. In the run-up to the meeting, the Trump administration has sent mixed messages and any increased uncertainties could push investors towards the safe haven Japanese Yen.

Today, USD-INR pair is expected to quote in the range of 69.05 and 69.70, it added.

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