Today, USD-INR pair is expected to quote in the range of 71.05 and 71.80.
The Indian rupee opened lower by 25 paise at 71.36 per dollar Today against Tuesday's close at 71.11.
Rupee is more effective in a range and currently is quoting at the higher side of the band at 71.40 (spot) ahead important upcoming interim budget announcement which is scheduled later this week.
On the domestic front, market participants will remain cautious and if there is any possibilities of change in fiscal deficit target for next year rupee may come under pressure. The US and China launch a critical round of trade talks amid deep differences over U.S. demands for structural economic reforms from Beijing this all will make it difficult to reach a deal before a March 2 U.S. tariff hike.
The two sides will meet next door to the White House in the highest-level talks since US President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war at December. Today, USD-INR pair is expected to quote in the range of 71.05 and 71.80, it added.
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