The Indian rupee declined on Monday. It has opened lower by 11 paise at 68.12 per dollar versus 68.01 Friday.
According to Motilal Oswal, rupee, on Friday, consolidated in a narrow range as most market participants were cautious ahead of the important floor test in state elections of Karnataka.
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According to Motilal Oswal, rupee, on Friday, consolidated in a narrow range as most market participants were cautious ahead of the important floor test in state elections of Karnataka.
Despite the impact of state elections is expected to be short lived, rise in global crude oil prices will continue to drive currency in the short term. Higher crude oil prices and political risk premium could keep the rupee under pressure.
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