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Rupee opens 23 paise up at 70.83 against dollar

“Today, USDINR pair is expected to quote in the range of 70.70 and 71.30.”

Oct 11, 2019, 09.20 AM IST
The rupee on Friday opened 23 paise higher at 70.83 against dollar following some selling in American currency by banks and exporters.

The local currency on Thursday settled almost flat at 71.07 against the US dollar as the anxiety over US-China trade talks kept investors on edge.

Yesterday, trade talks between US and Chinese officials resumed and expressed optimism over the ongoing trade war between the major two economies. There are reports suggesting that negotiators could be agreeing on issues such as currencies and copyright protections. This could very well lead to delay in US tariff hike scheduled for next week.

“Today, USDINR pair is expected to quote in the range of 70.70 and 71.30,” Motilal Oswal Financial Services said in a report.

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