Rupee opens higher at 70.27 per dollar

Today, USD-INR pair is expected to quote in the range of 70.20 and 70.90, says Motilal Oswal.

The Indian rupee opened higher at 70.27 per dollar on Thursday versus previous close 70.34.

On May 15 the rupee ended 10 paise marking the second straight session of gain driven by easing crude prices.

Rupee rose after remaining under pressure in the last few sessions following ease in trade war tensions between US and China. In the last couple of weeks trade war concerns between the two major economies has kept most market participants on the edge and volatility has been high across the board, said Motilal Oswal.

Yesterday for the second successive session US markets rebounded as tensions between the two eased-off. There were also reports that US president could hold off on imposing tariffs on imported cars and parts.

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