Indian rupee opens at 68.15 per dollar; down 11 paise

The USD-INR pair is expected to quote in the range of 67.80 and 68.35, says Motilal Oswal

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 11 paise at 68.15 per dollar versus 68.04 Tuesday.


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Rupee in the last few sessions has been consolidating in a broad range of 67.80 and 68.30 despite volatility in global crude oil prices. Higher crude oil prices and outflow of the fund from FIIs in equity and debt segment is keeping the rupee under pressure, said Motilal Oswal.

For this month FII fund outflows now stands at USD 3billion including equity and debt segment. The USD-INR pair is expected to open on a flat note as the dollar against its major crosses saw some bit of cool-off at higher levels.

On the domestic front, no major economic data is expected to be released and volatility for the pair could be confined to a narrow range. For the day, the USD-INR pair is expected to quote in the range of 67.80 and 68.35, it added.

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