Indian rupee remains rangebound after lower opening, hovers around 72.50

After a lower opening the Indian rupee is trading marginally higher by 4 paise at 72.47 per dollar.

Rupee opened lower at 72.55 per dollar versus previous close 72.51.

The dollar-rupee September contract on the NSE was at 72.55 in the previous session. September contract open interest declined 0.62% in the previous session, said ICICIdirect.

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

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Source:https://www.moneycontrol.com/news/business/markets/indian-rupee-opens-marginally-lower-at-72-55-per-dollar-2959711.html