Rupee erases gains but trades higher at 70.34 per dollar
The Indian rupee erased all its intraday gains and trading at day’s low level.
It is trading higher by 10 paise at 70.34 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.