Rupee opens lower on global dollar

The rupee opens lower, tracking global dollar gains against majors. Pair at 54.36/37 versus 54.42 open, 54.285/295 Friday close.

USD hovered near a 3-1/2-year high against the yen and held an upper hand against other major currencies on Monday after remarkable growth in US employment added to optimism over recovery in the world's largest economy.

A private bank dealer expects a 54.18-54.57 range for the session.

Trade data will be watched for export performance.

Share sales inflows that will be eyed later this month include Steel Authority of India Ltd that could raise USD 600 million and National Aluminium Co which could fetch USD 880 million.

Economic Times report on government likely to ease, remove FDI sectoral limits INR positive.