Rupee opens lower at 59.25 to the dollar

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The rupee opened the day marginally lower at 59.25 to the dollar, as against its Friday's close of 59.10. Dealers say there was some dollar buying by corporates in the last few days.

The currency is expected to largely trade in a range in the absence of any major triggers. The RBI will hold its Monetary Policy Review on Tuesday, however, the currency is unlikely to be impacted in a major way if the RBI maintains its status quo on interest rates.

Dealers say the next big trigger for the markets could be the Union Budget to be presented by the new government, largely expected later next month.  Expect the currency to hover around the 58-60 levels until then. Check currency rates here

Read more about: rbi, currency
Story first published: Monday, June 2, 2014, 9:07 [IST]
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