The Indian rupee opened lower by 6 paise at 71 per dollar on Wednesday versus previous close 70.94.

The dollar-rupee October contract on the NSE was at 71.0 in the previous session. Open interest increased 0.43% 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.

The rupee rose to a two-week high against the US dollar in the previous session on hopes of partial trade deal between the US and China in the next month.

Published On : 22-10-2019

Source : Money Control