The Indian Rupee has increased its morning gains with trading below 70 level. It is trading higher by 29 paise at 69.99 per dollar versus previous close 70.28.
On Wednesday, the rupee gained for the second successive session despite volatility in the dollar against its major crosses and rally in global crude oil prices.
Appreciation in the rupee has been driven primarily by FII inflows that have led the rally for rupee. In the next couple of sessions volatility for currencies could remain high ahead of the important Ecb Policy Statement that will be released today.
Apart from ECB policy statement, from the US, market participants will be keeping an eye on the non-farm payrolls number to gauge a view for the dollar. Today, USD-INR pair is expected to quote in the range of 70.10 and 70.50, it added.
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