On Thursday, the Indian rupee dropped by 14 paise to close at 69.40 per dollar and closed on Tuesday at 69.26.
On June 4, the local currency remained unchanged in the US currency further than 69.26 versus RBI's monetary policy on Thursday.
After the appreciation of the US Dollar for two successive sessions, the rupee is expected to open on a flat note ahead of the key RBI policy statement to be released today. Catch all the live updates here Stock Cash Tips
It is expected that the central bank can cut rates of 25 bps and also find ways to promote the liquidity of banks. RBI had retained its "neutral" attitude after the rate cut in April, but it is expected that the central bank can turn its position into "adjusting", which is more comfortable for the markets than just the cut in rates Maybe, especially after recent GDP numbers.
Today, the pair of USD-INR is expected to be spoken in the range of 69.20 and 69.90.
