BackRupee opens lower in opening trade
The partially convertible rupee opens at 53.655 against its Friday’s close of 53.5056, or down 0.53%
Premium(Priyanka Parashar/Mint )
Mumbai: The Indian rupee on Monday fell against the US dollar in the early trade.
This rupee is opening lower against the American currency in the fourth consecutive session..
The partially convertible rupee opened at 53.655 against its Friday’s close of 53.5056, or down 0.53%.
At 9.27am, the home currency was trading at 53.715, down 0.39%.
Traders said the dollar-rupee pair is expected to hold in a 53.50-53.80 range.
Dealers expect trading to be rangebound with most Asian markets closed for the lunar new year holidays and suggest that volumes may be slightly lower than average.
Oil firms have been major buyers so far with supply being very limited, traders said.
Reuters contributed to this story.
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