The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Rupee opens 5 paise down at 70.99 against dollar

    Synopsis

    Today’s economic calendar is muted and that could keep the dollar confined in a narrow range.

    The rupee was supported marginally on back of fund inflows by the FIIs in the last few sessions that have been over a billion dollar in the equity segment.
    The rupee on Wednesday opened nearly 5 paise lower at 70.99 against the dollar on account some buying in American currency by banks and importers.

    The local continued to consolidate in a narrow range on Tuesday following lack of cues on the domestic front and as most market participants remained cautious ahead of the important Brexit vote that was scheduled in the European Parliament.

    The rupee was supported marginally on back of fund inflows by the FIIs in the last few sessions that have been over a billion dollar in the equity segment.

    “Today, USDINR pair is expected to quote in the range of 70.70 and 71.30,” brokerage firm Motilal Oswal Financial Services said.

    Pound came under pressure after parliament rejected Prime Minister Boris Johnson’s attempt to fast-track a Brexit law through parliament. Today’s economic calendar is muted and that could keep the dollar confined in a narrow range.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    The Economic Times