The Indian rupee is trading flat at 71.12 per dollar versus previous close 71.10.
Rupee continued to consolidate in a narrow range of 70.70 and 71.40(Spot) and ahead of the important interim budget scheduled this week volatility could be confined to a range. Most market participants are expected to remain cautious ahead of the announcement of interim budget and that could keep the rupee in a broad range.
Rupee trades flat at 71.12 per dollar
Global crude oil prices that have been quoting in a narrow range could witness up move after U.S. government slapped sanctions on Venenzula’s state-owned oil firm PdVSA in a move aimed at severely curbing the OPEC member’s crude exports to the United States. Today, USDINR pair is expected to quote in the range of 70.70 and 71.50, said Motilal Oswal.