"Today, USD/INR pair is expected to quote in the range of 69.20 and 69.90," says Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services (MOFSL).
On the global front, Asian stocks edged up early on Monday, and the euro was confined to a narrow range after the weekend’s European Parliament elections highlighted the deepening political fragmentation of the 28-country bloc, Reuters reported.
In currency market, the pound was 0.1 per cent higher at $1.2727. Sterling had bounced back from a near five-month trough of $1.2605 after British Prime Minister Theresa May said she would quit early next month. The dollar index against a basket of six major currencies inched down 0.05 per cent to 97.563.
In commodities, US crude futures crawled up 0.38 per cent to $58.85 per barrel, trimming some of the deep losses suffered last week when trade tensions clouded the global demand outlook for the commodity.