Rupee trades higher at 69.63 per dollar

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Utilize upsides in the pair to initiate short positions, says ICICIdirect.

The Indian rupee is trading higher by 21 paise at 69.63 per dollar on Friday versus previous close 69.84.

Yesterday the rupee ended with a gain of 78 paise at against Wednesday's closing of 70.62 per dollar on the back of falling crude oil prices. This was the highest closing for rupee against the dollar since August 21.

Share Market tips

The dollar-rupee December contract on the NSE was at 70.10 in the previous session. December contract open interest declined 1.50% in the previous session, said ICICIdirect.

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

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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