Rupee trades higher at 71.05 per dollar
Today, USD-INR pair is expected to quote in the range of 71.05 and 71.70, says Motilal Oswal.
February 28, 2019 / 02:24 PM IST
The Indian rupee is trading higher by 17 paise at 71.05 per dollar versus Wednesday's close 71.22.
Yesterday, rupee came under pressure for the second successive sessions after tensions flared between Indian and Pakistan border. Uncertainty following the uncertainty could continue to keep market participants on the edge, sais Motilal Oswal.
On the domestic front, investors will be keeping an eye on Q3 GDP number; expectation is that the growth number could disappoint and that could continue to keep the currency under pressure. Sustained surge in global crude oil prices could also weigh on the rupee in the near term. Today, USD-INR pair is expected to quote in the range of 71.05 and 71.70, said Motilal Oswal.