Rupee opens higher at 70.34 per dollar

Utilise the downsides in the pair to initiate long positions, says ICICIdirect.

The Indian rupee opened higher by 10 paise at 70.34 per dollar on Wednesday versus previous close 70.44.

The dollar-rupee May contract on the NSE was at 70.59 in the previous session. May contract open interest declined 5.04% in the previous session, said ICICIdirect.

We expect the USDINR to find supports at lower levels. Utilise the downsides in the pair to initiate long positions, it added.

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