Indian rupee opens higher at 67.46 per dollar

rupee

The Indian rupee opened with marginal gain of 4 paise at 67.46 per dollar on Monday versus previous close 67.50.

Rupee, on Friday, came under pressure against the US dollar after global crude oil prices continued its uptrend. But in the late half of the session crude prices came under pressure as US oil drilling activity rose to its highest level since March, 2015, while increasing output in Russia also weighed on the market, said Motilal Oswal.

On the domestic front, market participants will be keeping an eye on inflation and industrial production number. Expectation is that inflation for May could rise to 4.8% compared to rise of 4.5% in the previous month.

Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85. Volatility for the pair could be confined to a narrow range ahead of the important global economic events scheduled in this week, it added.