"USDINR is likely to trade sideways to lower 54.20 followed by 53.90 levels for the day. A break and close above 9-Day EMA of 54.65 could attract potential buying," said Emkay Global Financial Services.
Rupee fell due to international pressure of Euro, stronger dollar internationally pushed the Indian rupee down.
Rupee fell when Germany's outlook was slashed by Bundesbank. However, FDI in retail approval caped the Indian rupee to fall further.
"We expect Indian rupee to go stronger today amid stable Euro and expected reforms in parliament."
Source : myiris.com