Rupee opens 4 paise down at 68.99 against dollar
Rupee consolidated in a narrow range with more focus on domestic factors than global.
By ETMarkets.com |
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The rupee on Tuesday opened 4 paise down at 68.99 against the US dollar on account of some buying in American currency by banks and importers.
The local currency on Monday settled 8 paise higher at 68.95 against the greenback as investor sentiments were revived by US-China trade truce.
Rupee consolidated in a narrow range with more focus on domestic factors than global. This week, market participants will be keeping an eye on the Union Budget and that could trigger volatility for the currency.
After the G20 meeting, most Asian currencies including the Yuan are trading on a positive note. The meeting of Donald Trump and Xi Jinping over the weekend had the leaders of the two largest economies agree to resume negotiations.
“Today, USDINR pair is expected to quote in the range of 69.05 and 69.70,” brokerage firm Motilal Oswal Financial Services said in a report.
The local currency on Monday settled 8 paise higher at 68.95 against the greenback as investor sentiments were revived by US-China trade truce.
Rupee consolidated in a narrow range with more focus on domestic factors than global. This week, market participants will be keeping an eye on the Union Budget and that could trigger volatility for the currency.
After the G20 meeting, most Asian currencies including the Yuan are trading on a positive note. The meeting of Donald Trump and Xi Jinping over the weekend had the leaders of the two largest economies agree to resume negotiations.
“Today, USDINR pair is expected to quote in the range of 69.05 and 69.70,” brokerage firm Motilal Oswal Financial Services said in a report.
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