The Indian rupee is trading marginally higher at 69.80 per dollar on Friday versus previous close 69.84.
Yesterday the rupee ended with a gain of 78 paise at against Wednesday's closing of 70.62 per dollar on the back of falling crude oil prices. This was highest closing for rupee against dollar since August 21.
The dollar-rupee December contract on the NSE was at 70.10 in the previous session. December contract open interest declined 1.50% in the previous session, said ICICIdirect.
We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.
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