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Rupee opens lower at 63.55 per dollar |
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The Indian rupee has opened with a marginal loss of 8 paise at 63.55 per dollar on Monday against Friday's closing value of 63.47 a dollar.
Agam Gupta of Standard Chartered said, "We expect local government banks to provide a floor to the pair as they buy dollars around 63.45 levels."
"We expect the USD-INR pair to trade in the range of 63.40-63.60/dollar for the day," he added.
Dollar hit a three-month high against a basket of major currencies after solid US inflation and housing data supported expectations for the Federal Reserve to raise interest rates in coming months.
Source : moneycontrol.com
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