We expect the rupee to trade in a range of 67.85-68.10/dollar today, says NS Venkatesh of IDBI Bank.
NS Venkatesh of IDBI Bank said, "The rupee closed at 67.90/dollar yesterday aided by dollar sales by banks. The market was volatile with the rupee touching intraday levels of 68.20/dollar."
"Volatility is expected even today, and the rupee will take cues from movement in the equity market."
"We expect the rupee to trade in a range of 67.85-68.10/dollar today," he added.
The US dollar fell to its lowest level in nearly four months as fears of a global economic slowdown pushed investors into safe-haven currencies like the Japanese yen and Swiss Franc.