Rupee opens lower at 69.60 against US dollar

The Indian rupee has opened lower by 5 paise amid rising crude oil prices due to US-Iran tensions.

The Indian rupee has opened lower by 5 paise at 69.60 against the US dollar on June 24 amid rising crude oil prices due to US-Iran tensions.


The currency closed 69.55 a dollar on Friday.

Last week, it gained 23 paise on likely FII inflow after dovish monetary policy from Fed & ECB. Although it fell 14 paise against US dollar on Friday due to escalated US-Iran tensions which lifted crude oil prices.

Overall it remained in a range of 69-70 to the dollar for last three months and that consolidation is expected to continue in coming sessions amid volatility in crude oil prices and ahead of Union Budget, experts said.

"Cool off in oil prices is likely to help rupee appreciate against USD. July series options positioning suggest a tight range for USDINR in the short term. Level of 69.50 has higher Put OI and 70.0 has highest Call OI concentration," Amit Gupta said.

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