Rupee trades higher at 68.81 per dollar

The Indian rupee is trading higher by 10 paise at 68.81 per dollar versus previous close 68.91.

On July 3 the Indian rupee ended with marginal gain at 68.89 versus US dollar in line with a steady trend in domestic equities ahead of Union Budget scheduled on July 5.

Rupee gains marginally against the US dollar ahead of the important Union Budget that will be announced tomorrow. Market participants will be awaiting for announcement on whether or not the government will make changes in its fiscal deficit target. Expectation is that the government may not budge into increased government spending as it could not afford to unsettle the bond market, said Motilal Oswal.