On Friday , Rupee opened with mild 2 pips gain at 70.72/73 Vs Thursday closed at 70.74/75 against greenback.
As the time of writing, after firm opening rupee slid up to 70.86/87 on dollar firm move overnight.
Easing tension between INDO - PAK keep rupee in favorable position but OIL price and Yields still matter of concerns.
INTRADAY RANGE - 71.25 ( 71.08 - 70.48 ) 70.25
On Thursday , Inter Bank market , the domestic unit opened slightly up at 71.26. It rose to an intraday high of 70.70, before finally closing at 70.74, showing a gain of 57 pips.
Rupee gained after two days of weakness against dollar on chances of de-escalation of tension with Pakistan.
Domestic stock markets also ended lower on Thursday after investors squared-off positions as February derivative contracts expired.
The strong response to the U.S. GDP data shows that the market is currently focused on fundamentals, rather than geopolitical factors.
The overnight wobbles in the U.S. currency came as the euro rallied on growing expectations that the European economy may have turned a corner.
But the dollar managed to claw back its losses after data showed U.S. gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter, above economists' forecasts for a 2.3 percent gain.
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