On nervous Monday, We are expecting that domestic unit will open with some gain against greenback from previous closed.
USDINR likely to open between 69.53/60 levels.
Oil price sharp fall on global slowdown fear can give some relief for our domestic unit (INR).
Asian currencies getting some recovery from last week losses.
Indices will be main constraints for sharp recovery in USDINR.
India's forex reserves increased by USD 1.994 billion to USD 419.992 billion for the week ended May 24 on swelling up of the core currency assets, the Reserve Bank said Friday.
INTRADAY RANGE - 69.24 ( 69.45 -69.75 ) 70.00
On Friday, the rupee rose by 17 pips to close at 69.69/70 against the US dollar -0.92 % on weakening of the greenback in overseas markets and easing crude oil prices.
On a weekly basis, the rupee declined by 34 pips.
The interbank foreign exchange , the domestic currency witnessed heavy volatility. The local unit opened at 69.78 a dollar and during the day it touched a low of 69.92 and high of 69.68.
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