The currency market today is expected to take cues from the month-end demand from importers which could put some pressure on the rupee, says NS Venkatesh of IDBI Bank.
The Indian rupee has opened marginally lower at 62.32 per dollar on Wednesday against previous day's closing value of 62.26 a dollar.
NS Venkatesh of IDBI Bank said, "The currency market today is expected to take cues from the month-end demand from importers which could put some pressure on the rupee. The rupee is expected to trade between 62.20-62.40/dollar today."
The US dollar rebounded against the euro on persistent bullish sentiment toward the greenback. The euro slipped below 1.10 to the dollar.
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