Indian rupee opens marginally lower at 63.20 per dollar

The Indian rupee has opened at 63.20 a dollar on Thursday, down 3 paise compared to previous day's closing value of Rs 63.17 a dollar.

The Indian rupee has opened at 63.20 a dollar on Thursday, down 3 paise compared to previous day's closing value of Rs 63.17 a dollar.

Mohan Shenoi,  Kotak Mahindra Bank says dollar rally against major currencies has continued on the back of strong US data and FOMC statement on expected lines."

"Risk sentiment has improved and consequently minor pull back in Indian stock market which earlier saw steep fall is likely. This should support rupee and USD-INR is expected to trade in a range of 63.10-63.40/USD today," he adds.

Meanwhile, the euro held near a nine-year low as investors fear the European Central Bank would have to take bolder stimulus steps to combat growing deflationary pressures in the zone.

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