Indian rupee opens flat at 61.57 per dollar

Indian rupee has opened flat at 61.57 per dollar on Thursday as against previous day's closing of 61.59.

The dollar edges higher this morning, but is hemmed in its recent range as investors remain cautious about liquidity conditions in China.

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According to Himanshu Arora of Religare, the dollar is expected to witness upside amid month end dollar demand that may emerge from oil marketing companies. "Worse than expected payroll data from the US may also support the dollar," he adds.

He says any correction in domestic equities is likely to keep the rupee pressure in the short term. "The range for the day is seen between 61.40-62.10/USD."

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