Rupee opens flat at 68.99 against dollar

The rupee on Thursday opened almost flat at 68.99 against the American currency due to the lack of a trigger on the domestic, as well as global front.

The local currency depreciated for the third session in a row on Wednesday, edging lower by 4 paise to 68.98 against the American currency as foreign fund outflows and higher crude oil prices weighed on sentiment.

Yesterday the White House said in a statement that trade talks between US and Chinese officials are expected to resume next week in China. The discussions would cover issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, the trade deficit, and how any deal is enforced.


“Today, USDINR pair is expected to quote in the range of 68.65 and 69.20,” brokerage firm Motilal Oswal Finanical Services said in a report.

Today, market participants will be keeping an eye on the ECB policy statement. Expectation is that the central bank could maintain a dovish stance and introduction of any fresh stimulus could keep the euro under pressure.