Rupee to remain weak today; more US dollar selling likely

Reserve Bank of India’s dovish tone weakens the rupee on Tuesday. The Indian currency heads back towards record lows beyond 60 per dollar.

According to CNBC-TV18’s Latha Venkatesh, it may not be a good morning for the rupee. There will be some follow-through selling because on Tuesday the rupee closed much near to its lowest point of the day. So there could always be some selling of rupee, buying of dollars that will flow today.
The dollar seems to be slightly stronger against most of the emerging market currencies. Emerging market shares opened lower today. “There is a bit of risk of ahead of the Federal Reserve meeting. Market is likely to have a weak rupee today, but much will depend on what RBI does,” she adds.