Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, says Motilal Oswal.
The Indian rupee ended higher by 27 paise at 69.88 per dollar against Friday's close of 70.15 per dollar.
It opened higher at 70.01 per dollar and extended its gains during the day to touched a level of 69.82.
Rupee rose closed on a flat note against the US dollar ahead of the important non-farm payrolls number that was released on Friday. In the last few sessions rupee rose primarily on back of fund inflows, said Motilal Oswal.
FIIs in this year until now have poured in funds worth USD 1.2 billion in equity and debt segment thereby keeping the currency supported on lower levels.
This week, market participants will be keeping an eye on inflation and industrial production number; expectation is that both inflation and IIP could disappoint and could restrict major appreciation for the rupee.Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, it added.The Great Diwali Discount!
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