Rupee opens flat against US dollar

Traders are also awaiting US job reports data due later today.

The Indian rupee has opened today with no significant changes against the US dollar, ahead of the Reserve Bank of India's bi-monthly policy meeting scheduled later today December 8.

As of 9:15 am, the home currency was trading at 83.36 per dollar, a minimal decrease of 0.01 percent from its last closing price of 83.36 per dollar.

Market experts predict that the RBI will maintain its status quo during the monetary policy announcement, which is consistent with recent trends. Since the market has already factored in this anticipation, it is unlikely that the Rupee will be impacted significantly, unless there are significant announcements concerning liquidity, according to traders.

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Traders are also awaiting US job report data due later today.

Asian currencies were trading higher. South Korean won was up 1.5 percent, the Taiwan dollar gained 0.55 percent, the Japanese yen 0.29 percent, the Singapore dollar 0.23 percent, Malaysian ringgit 0.16 percent, Indonesian rupiah 0.15 percent. Meanwhile, the Philippines peso and China renminbi fell 0.08 percent each.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 103.586, up 0.04 percent from its previous close of 103.543.

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