The Indian rupee opened flat at 68.69 per dollar on Friday versus 68.70 yesterday. Rupee fell sharply following broad strength in the US dollar against its major crosses after the Federal Reserve held rates unchanged but hinted towards gradual rate hike in the coming months.
Earlier this week, RBI in its policy statement considered raising rates by 25bps but retained its neutral stance as it aimed to contain inflation while not choking growth, said Motilal Oswal.
While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain “broadly unchanged. Today, USD-INR pair is expected to quote in the range of 68.50 and 68.90-69.05, it added.
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