Rupee opens lower at 63.58 per dollar

The Indian rupee opened with a marginal loss of 7 paise at 63.58 per dollar on Wednesday against previous close of 63.51.Himanshu Arora of Religare said, “The USD-INR pair is expected to trade in a rangebound fashion today with bearish bias amid weakness in dollar. Fresh selling of dollars by banks and exporters is expected to support the rupee today.” “The range for the USD-INR is seen between 63.35-63.70/dollar today,” he added.

The euro rebounded from three-month lows against the dollar as an easing of pessimism about Greece. The yen rose versus the greenback on upbeat remarks on inflation from the Bank of Japan Chief.

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