WAYS2CAPITAL FOREX UPDATE : Rupee Slips Further; Trades Lower At 70.08 Per Dollar

The Indian rupee slipped further as it is surpassed 70 mark in today’s session. It is trading lower by 40 paise at 70.08 per dollar.It opened lower at 69.80 per dollar against previous close 69.68.
The dollar-rupee January contract on the NSE was at 69.82 in the previous session. January contract open interest increased 12.02% in the previous session.
We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.
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