Indian rupee gains 30 paise Vs dollar in early trade at 68.57

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Utilise upsides in USD-INR to initiate short positions, says ICICIdirect.

The Indian rupee gained in the opening trade on Monday. It has open higher by 30 paise at 68.57 per dollar versus 68.87 Friday.

The dollar-rupee July contract on the NSE was at 69.05 in the previous session. July contract open interest declined 2.44% in the previous day, said ICICIdirect.

We expect the USD-INR to meet resistance at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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