USD-INR pair is expected to quote in the range of 69.20 and 69.90, Motilal Oswal.
The Indian rupee is trading near the day's hug. It gained 12 paise at 69.32 per dollar against previous close 69.44.In line with strong Asian currencies and rally in the domestic equity market, the Indian currency ended 21 paise higher at 69.44 per dollar on June 11.
Volatility for rupee in the last couple of sessions has remained low as market participants remain cautious ahead of inflation and IIP number that will be released today. Expectation is that inflation could inch higher as compared to the previous month and at the same time industrial production could witness slower growth in April, thereby keeping gains restricted for the currency, said Motilal Oswal.Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, it added.
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