May 22, 2013, 09.33 AM | Source:

Indian rupee opens at lowest level since Jan 8

The Indian rupee opened higher at 55.38 per dollar Wednesday. According to Pramit Brahmbhatt of Alpari, the range for the day is seen between 55.18-55.72/USD.

The Indian rupee opened at 55.38 per dollar Wednesday - the lowest level since January 8, 2013 - as against previous day's closing of 55.41.

Pramit Brahmbhatt of Alpari feels the rupee will continue to trade weak today. "However, good dollar inflows to the Indian market by FIIs could provide some respite," he added.

According to him, the range for the day is seen between 55.18-55.72/USD.

The euro rose to 1.29 level versus the dollar as the US Federal Reserve regional presidents suggested the central bank will continue its bond-buying scheme. The dollar index was around 83.70 level.

Also Read - 55.30/USD key level for rupee now: Moses Harding


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