Rupee opens marginally higher at 69.59 per dollar

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Today, USD-INR pair is expected to quote in the range of 69.40 and 70.20.




The Indian rupee opened marginally higher at 69.59 per dollar on Tuesday versus previous close 69.67.

Yesterday, the rupee declined by 44 paise to close at 69.67 against the US dollar Monday amid higher dollar demand from importers and rising crude oil prices.Rupee was weighed down against the US dollar for the fourth successive session as global crude oil prices started to rally and hit the highest level in four months. On the domestic front, FIIs flows have also slowed in the last one week thereby keeping the rupee under pressure. This week, on the domestic front, inflation and industrial production number will be released and weaker-than-expected economic number could extend losses for the currency. Today, USD-INR pair is expected to quote in the range of 69.40 and 70.20.

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