On Wednesday , USDINR opened 5 pips firm ahead of India General election 2019 outcomes on 23rd MAY'19.
Last two days domestic pair crawling in tight range despite exit polls indicating BJP+ comfortable win.
Dollar treads water near three-and-a-half-week high, backed by higher U.S. yields.
The pound was at $1.2715, hovering near a four-month low of $1.2685 touched overnight.
INTRADAY RANGE - 69.48 ( 69.64 -69.80 ) 69.96
On Tuesday , Rupee rose marginally by 2 pips to close at 69.73 against the US dollar in a lackluster trade as participants preferred to sit on the fence ahead of the results of general polls.
At the interbank foreign exchange, the domestic unit opened slightly lower at 69.73 and fell further to touch the day's low of 69.8175 in line with weak equity markets.
INDIA GENERAL ELECTION
Indian shares will reach a new record high by end-year, a Reuters poll of strategists showed, building on an election-driven rally in which investors have bet the ruling party will retain power and continue current economic policies.
Final results are due on Thursday.
Having gained 8% so far this year, the index is forecast to add another 2.6% by end-2019, touching an all time high of 40,000 from Tuesday’s close of 38,969, the poll of nearly 50 strategists taken May 14-21 showed.
The Reserve Bank of India cut interest rates twice before the elections. Like most major central banks, it is not expected to tighten policy any time soon, another factor that has kept share prices around the world well-bid this year.
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