Rupee opens marginally higher at 69.37 per dollar

USD-INR pair is expected to quote in the range of 69.20 and 70.05-70.20, says Motilal Oswal.

The Indian rupee opened marginally higher at 69.37 per dollar on Tuesday versus previous close 69.40.

Rupee consolidated in a narrow range despite weakness in major Asian currencies following uncertainty related to disturbed trade talks between US and China. There is expectation that the Chinese representatives may backtrack on substantial commitments it made during trade talks with the US, prompting President Trump to impose additional tariffs on Chinese goods slated to go into effect as early as Friday. China has repeatedly said it will make changes to open its economy according to its own timeline, not in response to trade disputes, said Motilal Oswal.

Today, USD-INR pair is expected to quote in the range of 69.20 and 70.05-70.20, it added.

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