Rupee extends gains, trades at 70.25 per dollar
The Indian rupee has extended its morning gains against the US dollar. It is trading higher by 19 paise at 70.25 per dollar versus previous close 70.44.
The dollar-rupee May contract on the NSE was at 70.59 in the previous session. May contract open interest declined 5.04% in the previous session, said ICICIdirect.
We expect the USDINR to find supports at lower levels. Utilise the downsides in the pair to initiate long positions, it added.