Utilise downsides in the pair to initiate long positions, says ICICIdirect.
The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.
On Thursday, the rupee declined 47 paise to end at 69.34 against the US dollar, registered a second straight session of fall.
The dollar-rupee April contract on the NSE was at 69.55 in the previous session. April contract open interest rose 9.38 percent in the previous session, said ICICIdirect.
On Thursday, the rupee declined 47 paise to end at 69.34 against the US dollar, registered a second straight session of fall.
The dollar-rupee April contract on the NSE was at 69.55 in the previous session. April contract open interest rose 9.38 percent in the previous session, said ICICIdirect.
We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.
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