The Indian rupee is trading higher by 22 paise at 70.48 per dollar versus previous close 70.70.
The dollar-rupee February contract on the NSE was at 70.87 in the previous session. February contract open interest increased 0.58% in the previous session, said ICICIdirect.
We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions.
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