The Indian rupee opened tad lower at 69.39 per dollar versus yesterday's close of 69.35. The domestic currency is on course to hit best weekly performance since March 15 on the back of decline in oil prices. Also, a record inflow to the tune of $10 billion into the Indian equities market provided support to the currency.
Indian bonds also got a boost with the drop in oil prices and the yield on benchmark 10-year bonds is trading at 7.369%. It has lost 2 bps this week.
Today, USD-INR pair is expected to quote in the range of 69.40 and 70.05-70.20 as per brokerage firm Motilal Oswal.