ICICIdirect feels EM currencies will witness a round of appreciation.
Indian rupee is trading flat at 75.56 per dollar, amid buying seen in the domestic equity market.
It opened flat at 75.56 per dollar on Tuesday against previous close of 75.54.
At 11:10 IST, the Sensex was up 262.26 points or 0.79% at 33565.78, and the Nifty was up 74.70 points or 0.76% at 9900.85.
The dollar-rupee contract on the NSE was at 75.74 in the last session. The open interest fell by almost 0.8% during the last session, said ICICIdirect.
The Dollar index fell towards its lowest levels since March 16 as US market rallied nearly 4% for the week. We feel EM currencies will witness a round of appreciation, it added.
Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.
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First Published on Jun 2, 2020 10:00 am
