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Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, says Motilal Oswal.
The Indian rupee is trading higher by 9 paise at 69.43 per dollar versus Friday’s close 69.52.
Rupee continued to appreciate against the US dollar and extended its gains following a landslide victory for the NDA in the general elections. Last week, gains for the rupee also extended as global crude oil prices also saw some cool-off from higher levels, said Motilal Oswal.
On the domestic front, focus will now shift to the RBI policy meeting, wherein the central bank is expected to cut rates. This week, on the domestic front, market participants will be keeping an eye on quarterly GDP number to gauge a view for the currency.
Today, USD-INR pair is expected to quote in the range of 69.20 and 69.90, it added.
