Rupee opens lower in early trade.

Mumbai: The Indian rupee opened lower at 54.85 a dollar on Thursday against its Wednesday’s close of 54.72.

At 9.17am, the home currency was trading at 54.84, down 0.24%, while India’s benchmark index, the S&P Sensex, was trading at 19,245.24 points, down 0.04%.

Traders said the focus now lies on the central bank meetings in Japan and Britain, and the euro zone for further signs of a monetary stimulus.

Traders expect the dollar-rupee pair to hold in a range of 54.75 to 55.00 for the initial part of the day and added that the dollar demand from oil importers will likely boost the pair.

Most Asian currencies were trading stronger as compared with the dollar.


Source : livemint.com