Indian rupee opens lower at 70.17 per dollar

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Utilise downsides in the pair to initiate long positions, says ICICIdirect.

The Indian rupee opened lower by 17 paise at 70.17 per dollar on Friday versus previous close 70.

The dollar-rupee March contract on the NSE was at 70.15 in the previous session. March contract open interest declined 4.0% in the previous session, said ICICIdirect.We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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