The Indian rupee is trading lower by 10 paise at 70.56 per dollar against previous close 70.46.
Rupee continued to remain under pressure and weighed down on back of strength in the dollar against its major crosses and rally in global crude oil prices. In the last few session crude has been rallying and extended gains in crude could keep the rupee under pressure, said Motilal Oswal.
Crude oil rose as the extension of US-China talks in Beijing raised hopes that the world’s two largest economies would resolve their trade standoff. On the domestic front, there is speculation doing round that the government may soon come out with a package to support farmers.
Today, USD-INR pair is expected to quote in the range of 70.40 and 71.05, it added.
We provide you sure shot Commodity & Equity Market Tips, Intraday tips, share market tips, Mcx bullion tips, Mcx tips, Crude tips, Stock tips, Future and Cash tips with Technical & Fundamental Research.
Visit: www.ripplesadvisory.com
Contact us @ +91-9644405056
No comments:
Post a Comment