USDINR future Long Term Outlook below 70, Downside Expected levels 68.40 – 67.10
Rupee Moves Higher, Against Dollar
The rupee advanced by 12 paise to 69.05 against the dollar in opening trade on Friday, reported news agency Press Trust of India (PTI).
Weakening of the greenback in overseas markets and higher opening in domestic equities led to the appreciation of the domestic currency, analyst were quoted as saying in the PTI report.
On Thursday, the rupee plunged by 76 paise to settle at 69.17 against dollar after Reserve Bank of India (RBI) reduced key interest rate by 25 basis points or 0.25 per cent to 6 per cent.
