USDINR start Wednesday trade with 15 pips weaker @ 68.99/69.00.
Rupee seems under pressure on Dollar Index advance as well as Brent & Crude oil near 2019 high. But Today is USDINR march expiry keep pair in range bound.
Under the rupee-dollar swap auction conducted Tuesday, the Reserve Bank received bids for USD 16.31 billion, against the notified amount of USD 5 billion.
INTRADAY RANGE - 68.59 ( 68.82 - 69.04 ) 69.26
On Tuesday , The rupee appreciated by 10 pips to end at 68.8550/8650 against the US dollar following a robust response to RBI's maiden rupee-dollar swap auction. the rupee opened strong at 68.8875 against the greenback but surrendered the gains to slip to a low of 68.99.
Sustained foreign fund inflows and heavy buying in domestic equities also propped up the local unit.
The U.S. dollar edged higher against its rivals as Treasury yields rebounded. The dollar's strength came even as U.S. housing data continued to indicate wobbles in the economy and growing expectations of a Federal Reserve rate cut intensified.
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