Forex Market News

Rupee Trades Fat At 69.66 Per Dollar

The Indian rupee is trading flat at 69.66 per dollar versus previous close 69.66.

Rupee consolidated in a range ahead of general election results that will be declared today; expectation is that the current ruling government could win with a big majority and that could be supportive for the rupee.

As the counting began this morning we expect volatility for the currency to remain high during the course of the day. Rupee is expected to witness wild swing as and when the numbers are released.

Today, the rupee is expected to open higher against the dollar as early numbers suggest the result could be in favor of the NDA. The USD-INR pair is expected to quote in the range of 69.20 and 70.20, it added.

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