The Indian rupee opened higehr against the US dollar on October 28, tracking losses across most Asian peers, with investors awaiting the Federal Reserve's policy decision after local market hours for clues on the outlook for further rate hikes.
The rupee opened higher by 9 paise at 95.03 per dollar, compared with Monday’s close of 95.12.
According to Finrex, the rupee is expected to open at 95.08 this morning as oil prices which had come down to $ 113.32 yesterday night were back to $ 115.90 per barrel as Houthi attacks on Saudi Arabia overshadowing the diplomatic efforts to resolve the US-Iran war.
With the JIO IPO outflows over today we await for the month end demand to take place keeping rupee between 95.00 to 95.25 narrowly for the day is our expectation.
Exporters to keep selling the upticks while importers to buy the downticks for their import payments, it added.