The Indian rupee declined in the early trade on Wednesday. It has opened lower by 15 paise at 69.09 per dollar versus previous close 68.94.

On July 23 the Indian rupee erased most of its losses and closed marginally lower at 68.94 against the US dollar amid strengthening of the greenback against major currencies and sustained foreign fund outflows.

The dollar-rupee July contract on the NSE was at 68.98 in the previous session. Open interest declined 10.18% in the previous session. We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, said ICICIdirect.

Published On : 24-07-2019

Source : Money Control