Moneycontrol PRO
UPCOMING EVENT:Know how Global Investing can be spread beyond the US markets by joining an engaging webinar on November 30, 11:30 a.m.

Rupee opens weak; RBI policy eyed

The rupee fell on Tuesday as sentiment was weakened by the broad recovery in the US dollar and a weak opening of domestic shares but the central bank's policy decision was eyed for further cues.

May 03, 2011 / 10:40 AM IST

The rupee fell on Tuesday as sentiment was weakened by the broad recovery in the US dollar and a weak opening of domestic shares but the central bank's policy decision was eyed for further cues.


At 9:21 am, the partially convertible rupee was at 44.410/415 per dollar, weaker than Monday's close of 44.33/34.


Dealers said it could trade in the range of 44.30-44.50 per dollar range intra-day.


Most Asian currencies were weaker against the US dollar on Tuesday.


The index of the dollar against six major currencies was up 0.18% at 73.085 points, and higher than 72.966 at the end of local forex trade on Monday.


Indian shares dropped 0.4% in early trades on Tuesday, taking cues from weak Asian markets, and as investors awaited the central bank's policy statement due around 0530 GMT.

Traders said sentiment would also be cautious ahead of the central bank's rate decision expected around 0530 GMT, where it is widely seen lifting rates by 25 basis points.

first published: May 3, 2011 10:09 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark