Rupee opens lower at 69.21 per dollar

The Indian rupee opened lower by paise at 69. 21 per dollar on Thursday against Wednesday’s close 69.11.

The Indian rupee opened lower by paise at 69. 21 per dollar on Thursday against Wednesday’s close 69.11.

The rupee continued its upward momentum for the second day, as it gained 19 paise to close at 69.11 against the US dollar on strong foreign fund inflows on Wednesday.

Rupee strengthened against the US dollar for the second successive session ahead of the important global events that were lined up yesterday. On the domestic front, inflation and industrial production number will be released tomorrow, but are likely to have minimal impact on the currency.

Expectation is that inflation in March could inch higher compared to the previous month, which could keep the gains capped for the rupee, said Motilal Oswal.Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80, it added.

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