On Tuesday, Rupee opened 5 pips firm against greenback @ 68.8875/8975.
USDINR getting early morning gain on Dollar index moderate move.
Concern Brent oil capped but momentum upside sustain.
We are thinking , USDINR finding some ground between 68.20-68.90 levels for short - to - medium term rally.
INTRADAY RANGE - 68.45 ( 68.68 - 69.15 ) 69.33
On Monday, Interbank market, the rupee opened on a weak note at 69.06 then fell further to 69.17 against the US dollar. The local unit, however, erased the initial gains and finished at Rs 68.94, down by just 1 pips over its previous close.
The rupee-dollar swap auction announced by the RBI earlier in March will infuse Rs 35,000 crore into the system. The auction of USD 5 billion for a tenure of three years will be conducted on Tuesday.
British Lawmakers will now vote on a range of Brexit options later on Wednesday, giving parliament a chance to indicate whether it can agree on a deal with closer ties to the European Union.
The dollar rebounded modestly as Treasury yields pulled back from 15-month lows as a modicum of calm returned to financial markets gripped by fears of a sharper downturn in the global economy.
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