Rupee trades lower at 69.86 per dollar

The Indian rupee has extended the fall and trading lower by 41 paise at 69.86 per dollar versus previous close 69.45.

Rupee consolidated in a narrow range for the most of the sessions but rose in the last hour of the session. In the last couple of sessions volatility for the USD-INR pair has dropped as most market participants were on the sidelines following New Year holidays, said Motilal Oswal.

On the domestic front, no major economic data is expected to be released but from the US market participants will be keeping an eye on the employment and manufacturing PMI to gauge a view for the greenback. Yesterday, US volatility for major currencies was low as most global equities remain shut on account of New Year holiday. Today, USD-INR pair is expected to quote in the range of 69.40 and 70.05, it added.