Indian rupee slips marginally lower in opening trade

The Indian currency is trading at 54.01/02 per dollar versus its previous close of 53.96/97  

 

Dealers say some bunched up inflows may provide support to the Indian rupee. Photo: Priyanka Parashar/Mint  

 

Mumbai: The Indian rupee traded marginally lower on Monday morning after flattish open. The local currency was trading at 54.01/02 per dollar versus its previous close of 53.96/97.

Dealers say some bunched up inflows may provide support to the Indian rupee. The rupee-dollar pair is seen consolidating around 53.85-54.10 levels.

Foreign funds were provisional buyers of Rs.940 crore of stocks on Thursday.

Indian financial markets were closed on Friday for a local holiday.

The equity benchmark Sensex gained in early trades on Monday, up 0.44%.

The yen started the new week under pressure, with the dollar just a whisker away from the elusive 100 level, after the Group of 20 countries stopped short of criticising Japan’s reflationary policies that have sent its currency tumbling.

 

TOUHID HUSSAIN

PGDM 2nd SEM