Forex Market News

Indian Rupee Opens Higher By 10 Paise At 68.02 Per Dollar

The Indian rupee opened higher by 10 paise at 68.02 per dollar on Tuesday versus previous close 68.12.
According to Motilal Oswal, rupee yesterday consolidated in a narrow range but closed the session lower against the US dollar as rising crude oil prices weighed on the overall market sentiment.
Global crude oil prices rose on concerns that Venezuela’s crude output could drop further following a disputed presidential election and potential US sanctions on the OPEC-member.
The USD-INR pair is expected to open on a flat note as the dollar against its major crosses saw some bit of cool-off at higher levels.
On the domestic front, no major economic data is expected to be released and volatility for the pair could be confined to a narrow range. For the day, the USD-INR pair is expected to quote in the range of 67.80 and 68.35, it added.
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