Rupee near day’s high, trades at 69.61 per dollar

The Indian rupee are trading near day’s high level at 69.61 per dollar against Thursday’s close 69.36.

Rupee consolidated in a narrow range for the whole week following lack of domestic and global cues and despite strength in the dollar against its major crosses. On the domestic front, trade numbers released last week were slightly disappointing following rise in crude imports. Inflation number also failed to have any major impact on the currency, said Motilal Oswal.

RBI data showed India’s FX reserves continue to swell and the central bank added another USD 1.1 billion to touch USD 414.88 billion for the week ended April 12th.

Today, USD-INR pair is expected to quote in the range of 69.40 and 69.95, it added.

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