Indian rupee opens lower at 67.45 per dollar

rupee

The Indian rupee opened marginally lower at 67.45 per dollar on Friday versus previous close 67.41.

Rupee consolidated in a narrow range ahead of India’s GDP number that was released later in the evening. Data released by the central Statistics office showed in Q4 Indian economy grew at 7.7 percent compared to growth of 7.2 percent in the previous quarter. For the whole year Indian economy was seen growing at 6.7 percent compared to growth of 7.1% in the previous financial year, said Motilal Oswal.

On the other hand, government data showed India’s fiscal deficit in the year ended March 2018 came in at 3.53 percent of GDP in line with the revised estimates.

Today, rupee is expected to open around 67.65 and, for the day, expected to quote in the range of 67.50 and 67.90, it added.