Rupee opens lower at 68.16 per dollar

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The Indian rupee opened lower by 7 paise at 68.16 per dollar on Friday against previous close 68.09. This week saw the dollar Index come down to trade below 101 levels. 

Given the dollar weakness, we expect the USD-INR pair to trade in a range of 67.90-68.15/dollar today. The dollar index recouped some of its losses but still trades lower as Trump trade loses steam. The yen traded at 114.8 per dollar, on course for a 2 percent gain this week.