Indian rupee opens lower at 58.70/dollar

The Indian rupee has opened lower at 58.70 a dollar on Wednesday, down 7 paise compared to previous day's closing value of 58.63 per dollar.

The Indian rupee has opened lower at 58.70 a dollar on Wednesday, down 7 paise compared to previous day's closing value of 58.63 per dollar.

After snapping 4 days of gains, Pramit Brahmbhatt, Veracity expects rupee to trade positively for the day taking cues from the election rally but importers entry into the markets and profit booking in local equities will keep the rupee under pressure.

According to him, the range for the day is seen between 58.25-59.25/USD.

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