Moneycontrol
Get App
Last Updated : May 28, 2019 02:20 PM IST | Source: Moneycontrol.com

Rupee at day's low, trades at 69.70 per dollar

Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, says Motilal Oswal.

Moneycontrol News @moneycontrolcom

The Indian rupee is trading lower by 20 paise at 69.70 per dollar against previous close 69.50.

On May 27 the rupee ended marginally lower at 69.50 per dollar after it erased all its morning gains on the back of recovery in the greenback against other major currencies.

Rupee consolidated in a narrow range against the US dollar as most market participants remained cautious ahead of the important GDP number that will be released later this week, said Motilal Oswal.

Close

Expectation is that growth number could come in at 6.4% compared to growth of 6.6% in the previous quarter. On the other hand, fiscal number will also be released and widening deficit could keep the rupee under pressure.

Consolidation for major crosses was also seen in yesterday’s session as US markets were shut on account of Memorial Day. Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, it added.

India Union Budget 2019: What does Finance Minister Nirmala Sitharaman have up her sleeve? Click here for top and latest Budget news, views and analyses.
First Published on May 28, 2019 02:15 pm

tags #Rupee

Loading...
Sections
Follow us on
Available On
PCI DSS Compliant