The Rupee opened the day lower against the dollar in opening trade, dropping 11 paise at 61.50 against the dollar. The currency had closed at 61.39 to the dollar on Tuesday.
While, month-end dollar demand by oil marketing companies is also expected to weigh on the currency today.
|69.961||United States Dollar|
The rupee has been rallying in the last few days and may continue to exhibit volatility. Dollar inflows from FIIs has also fuelled a rally in the rupee in the last few weeks.
Traders are eagerly waiting for the outcome of the Federal Reserve's two-day policy meeting which is expected to provide cues to the market.
The Sensex and the Nifty opened marginally lower tracking global cues.