Today, USD-INR pair is expected to quote in the range of 70.70 and 71.40, says Motilal Oswal.
The Indian rupee erased morning gains and trading marginally lower at 71.28 per dollar versus previous close 71.24.
Rupee consolidated in a narrow range of but was weighed down in the latter half of the session. Volatility in case of the USD-INR pair has shifted slightly higher and in the past few sessions the pair has been consolidating in the higher range of 70.70 and 71.40, said Motilal OSwal.
Despite trade deficit narrowed in December rupee failed to witness any major appreciation. Today, USD-INR pair is expected to quote in the range of 70.70 and 71.40, it added.
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