Moneycontrol
Jan 11, 2017 09:03 AM IST IST | Source: Moneycontrol.com

Rupee opens lower at 68.23 per dollar

The rupee will take cues from the equity market movement as well as the minor weakness of USD against the major currencies, says NS Venkatesh of Lakshmi Vilas Bank.

The Indian rupee opened lower by 5 paise at 68.23 per dollar on Wednesday versus previous close 68.18.

NS Venkatesh of Lakshmi Vilas Bank said, "The rupee is expected to trade steadily in a narrow range of 68.15-68.35/dollar."

"The rupee will take cues from the equity market movement as well as the minor weakness of USD against the major currencies," he added.

Also Read - RBI to go for 25 bps rate cut in 2017: Citigroup

US dollar held steady ahead of US president-elect Donald Trump's first news conference set for today, while the Mexican peso hit a record low. Investors fretted that trump, who takes office on January 20, could shake markets by taking an aggressive line on issues such as trade policy.

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