Rupee opens weaker at 54.33/34 versus its close of 54.2750/2850 on Thursday tracking weakness in regional share markets and currencies.
Traders say dollar inflows towards share auction by the government to sell 5.8 percent stake in state-owned steelmaker Steel Authority of India Ltd (SAIL) , which is expected to raise about USD 275 million, is likely to limit the USD upside.
Asian shares and the euro pressured by fears Cyprus may default on its debt, while deteriorating euro zone economic activity further underscores the troubles ailing the region.
The pair is seen moving in a 54.15 to 54.60 range during the session.
Asian currencies trading mixed versus the dollar. See for a snapshot.
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