The Indian rupee opened lower against the US dollar on September 11, with the oil rally gathering pace, pushing U.S. Treasury yields higher and fuelling risk aversion.
The rupee opened 24 paise weak at 95.68 per dollar, compared with Thursday’s close of 95.44.
According to Finrex, rupee is set to open at 99.69 with 99.75 as a resistance which RBI was constantly protecting last month.
The US Yields moved higher and so was Brent at $ 107.53. Accordingly, the dollar Index was also higher at 99.03 while Asian currencies fell along with Equities.
Let’s see if RBI protects today the level of 95.75 or we move higher on the pair. Exporters can continue to sell at 99.75 while importers to buy the dips, it added.