Indian rupee slips 34 paise; opens at 67.46 per dollar

The Indian rupee slipped in the early trade on Friday. It has opened lower by 34 paise  at 67.46 per dollar versus 67.12 yesterday.

Rupee fell in the second half of the session following broad strength in the dollar against its major crosses and uptick in global crude oil prices. Yesterday, oil prices rose following reports that Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals. In the recent past, it has been observed that higher crude oil prices have weighed on the rupee, said Motilal Oswal.

Today, USDINR pair is to quote in the range of 67.35 and 67.80. On the domestic front, market participants will be keeping an eye on inflation and industrial production number that will be released earlier next week.

Expectation is that inflation in May could inch higher that could further weigh on the currency, it added.