 "Rupee seen a winner in US-China trade thaw, but gains may be slow")
The rupee on Tuesday opened eight paise higher at 68.88 against the US dollar. The domestic unit ended almost flat at 68.96 per US dollar Monday as participants preferred to wait on the sidelines to see the outcome of RBI's first-ever rupee-dollar swap auction.
The rupee-dollar swap auction announced by the RBI earlier in March will infuse Rs 35,000 crore into the system. The auction of $5 billion for the tenure of three years will be conducted today.
"Today, USD/INR pair is expected to quote in the range of 68.70 and 69.20," said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial
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