Rupee opens marginally lower at 68.97/$

The Indian rupee opened marginally lower at 68.97/$ on Tuesday vs. previous close 68.95.

 

The domestic unit is currently trading at 68.98/$, marginally down by ~3p.

 

The Indian rupee ended 9p higher at 68.95/$ on July 1 as investor sentiments were buoyed by US-China trade optimism.

 

The rupee is now expected to take cues from domestic factors rather than global as the Union Budget will be presented this week. This could also mean a volatile week for the currency.

 

After the G20 meet, most Asian currencies are trading in the green owing to the trade talk renewal between the US and China over the weekend. 

 

Meanwhile, Brent crude fell after an initial rally as OPEC+ decided to continue supply cuts until March 2020.

 

NIFTY TRADING TIPS