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Indian rupee opens lower by 26 paise at 67.34 per dollar

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 26 paise at 67.34 per dollar versus previous close 67.08.

According to ICICIdirect, The near-month dollar-rupee May contract on the NSE was at 67.23 in the previous session. The May contract open interest declined 8.24% in the previous day.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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