The Indian rupee started the session on a weak note against the US dollar on September 10, amid rising oil prices, with the central bank's support likely to temper rather than reverse the currency's decline.
The rupee opened weak at 95.25 per dollar, compared with Wednesday’s close of 95.10.
According to Finrex, rupee to open slightly weaker at 95.16 with Brent at almost $ 101 per barrel and dollar index at 98.76.
The emphasis will be on buying dollars only with oil remaining on the upside and our own Indian Basket being much higher than Brent thus increasing India’s costing for buying the oil.
Exporters can utilise the opportunity to sell $ with RBI protecting levels which could be 95.30 today while oil companies and defence demand keeping the $ higher, it added.