The Indian rupee ended 9 paise higher at 68.95 against the US dollar on July 1 as investor sentiments were revived by US-China trade truce.
Rupee consolidated in a narrow range and now rather than global, domestic factors will be more in focus. This week, market participants will be keeping an eye on the Union Budget and that could trigger volatility for the currency. After the G20 meeting most Asian currencies including the Yuan are trading on a positive note. Donald Trump and Xi Jinping’s meeting over the weekend, at which the leaders of the two largest economies agreed to resume negotiations. Today, USD-INR pair is expected to quote in the range of 69.05 and 69.70.
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