Indian rupee opens at 62.10 per dollar; down 12 paise

The Indian rupee opened lower by 12 paise at 62.10 per dollar against 61.98 Wednesday.

The dollar holds steady this morning, after a surge in us equities confirmed investor appetite for risk and helped the currency recoup some of the losses suffered earlier on geopolitical concerns.

Although potential flare-up in tensions in Ukraine is seen supportive of traditional safe-haven currencies like the Yen and the Swiss Franc.

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Pramit Brahmbhatt of Alpari India said, "High month-end dollar demand by oil marketing companies is pushing rupee into the negative zone. Choppy equity is adding pressure. However, good dollar inflow for the IRFC bond sale will help ease the weakness."

"Markets are now awaiting the release of GDP for further cues for trading. The range of rupee for today is seen between 61.75-62.30/USD," he added.