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Rupee Opens Higher At 69.72

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The Indian rupee in Thursday's trade opened higher at 69.72, up 11 paise, versus the previous closing of 69.83 per US dollar.

Rupee lost ground for 2-straight sessions as dollar gained in strength against its major crosses.

Rupee Opens Higher At 69.72
 

Further, movement in rupee will be guided by GDP and fiscal numbers and RBI MPC meet scheduled for tomorrow. There is a chance that rate cut as anticipated by experts will weigh on the rupee and it may fall further. Rupee for some time now has been in a narrow range of between 69-70.

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