Today, USD-INR pair is expected to quote in the range of 70.70 and 71.50, says Motilal Oswal.
The Indian rupee is trading marginally lower at 71.14 per dollar versus previous close 71.11.
Rupee rose in the latter half of the session primarily on back of gains in domestic equities and as FIIs poured in funds after remaining on the sell side for last few sessions. Rally in global crude oil prices, stronger dollar and widening trade deficit is expected to keep the rupee under pressure. On the domestic front, no major economic data is expected to be released but a stronger dollar could keep the rupee weighed down, said Motilal Oswal.Today, USD-INR pair is expected to quote in the range of 70.70 and 71.50, it added.