Indian rupee opens flat at 68.48 per dollar

USDINR pair is expected to quote in the range of 68.40 and 68.85, says Motilal Oswal.

The Indian rupee opened flat at 68.48 per dollar on Monday versus 68.47 Friday.


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On Friday, rupee came under pressure in the first half of the sessions but losses for the currency were limited on suspected RBI interventions that curbed any major weakness for the currency and as the dollar weakened against its major crosses, said Motilal Oswal.

On Friday, data released by the RBI showed India’s FX reserves saw further erosion of USD 2.25billion and reserves for the week ended June 22 stands at USD 407.81 billion.

Today in the Asian session global crude oil prices have corrected after US president during the weekend tweeted that he has urged Saudi to increase oil production to keep prices in control. Today, USDINR pair is expected to quote in the range of 68.40 and 68.85, it added.

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Riyanshi

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