Indian rupee opens higher at 54.17/dollar

The Indian rupee opened on a positive note, at 54.17 per dollar versus the Friday's close of 54.33 per dollar.

Agam Gupta, Standard Chartered Bank said the rupee was likely to open strong after Cyprus and the European Union reached a draft bailout deal. He sees the rupee to range between 54-54.40/USD.
According to Nirmal Bang currency report, USD/INR can dip upto 53.95 but can be bought on dips for the day. It has a good intraday support at 53.75 and resistance is at 54.35. Expected intraday range is 53.95-54.35.