Rupee near day's high at 69.89 per dollar

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Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, says Motilal Oswal.




The Indian rupee has extended morning gains and trading near to the day's high level at 69.89 per dollar.

It opened higher at 70.01 per dollar versus previous close 70.15.

The rupee rose closed on a flat note against the US dollar ahead of the important non-farm payrolls number that was released on Friday. In the last few sessions rupee rose primarily on the back of fund inflows, said Motilal Oswal.

FIIs in this year until now have poured in funds worth USD 1.2 billion in equity and debt segment thereby keeping the currency supported on lower levels.

This week, market participants will be keeping an eye on inflation and industrial production number; the expectation is that both inflation and IIP could disappoint and could restrict major appreciation for the rupee. Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, it added.

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