The Indian rupee gained in the early trade on Friday. It opened higher by 23 paise at 69.96 per dollar versus 70.19 yesterday.
Volatility in rupee continued to remain high but traded in a wide range of 70.05 and 70.40(Spot) for the second successive session. Global crude oil prices are inching higher in the past few sessions on signs of output cuts by Saudi Arabia.
In the last few sessions crude has been volatile by concerns that slowing global economic growth could dent demand but has drawn support from signs that Saudi Arabia is cutting crude output. Today, USD-INR pair is expected to quote in the range of 70.05 and 70.50, it added.
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