Indian rupee opens lower at 68.80 per dollar

Today, USD-INR pair is expected to quote in the range of 68.50 and 69.05…

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The Indian rupee opened lower by 6 paise at 68.80 per dollar on Thursday against previous close 68.74.

Yesterday, rupee fell against the US dollar in the latter half of the session primarily on back of rise in global crude oil prices. Volatility for major currencies including the rupee was low in yesterday’s session as US markets were shut on account of Independence Day holiday, said Motilal Oswal.

On the other hand, global crude oil prices could to trade in a wide range keeping most market participants on the edge. Crude has been one of the major factors that led to volatility in most asset classes. Iranian President threatened to disrupt oil shipments from neighboring states if Washington continued to press all countries to stop buying Iranian oil.

Today, USD-INR pair is expected to quote in the range of 68.50 and 69.05, it added.

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