Today Rupee advances 7 paise to 68.15 against dollar in early trade
The rupee started nearly 7 paise higher against the US dollar at 68.15 on Monday amid selling of the American currency by banks and exporters.
The domestic equity market opened on a flat note, following mixed global cues.
The local currency was trading 6 paise up at 68.15, while equity benchmark Sensex was down 22.44 points, or 0.09 per cent, at 26,208. The Nifty50 index was trading 5.95 points, or 0.07 per cent, down at 8,080.
On Friday, the rupee added to its gains against the dollar, gaining over 10 paise to end at 68.22 on rising expectations that the Reserve Bank of India (RBI) will lower policy rates at its policy review on Wednesday.
The Monetary Policy Committee headed by RBI Governor Urjit Patel had slashed repo rate by 25 basis points to 6.25 per cent in October.
The rupee has weakened more than 3 per cent in recent weeks to hit record lows, pressured by a rally in the US dollar, capital outflows from emerging markets and worries that Prime Minister Narendra Modi's demonetisation move would severely dent growth.
The domestic equity market opened on a flat note, following mixed global cues.
The local currency was trading 6 paise up at 68.15, while equity benchmark Sensex was down 22.44 points, or 0.09 per cent, at 26,208. The Nifty50 index was trading 5.95 points, or 0.07 per cent, down at 8,080.
On Friday, the rupee added to its gains against the dollar, gaining over 10 paise to end at 68.22 on rising expectations that the Reserve Bank of India (RBI) will lower policy rates at its policy review on Wednesday.
The Monetary Policy Committee headed by RBI Governor Urjit Patel had slashed repo rate by 25 basis points to 6.25 per cent in October.
The rupee has weakened more than 3 per cent in recent weeks to hit record lows, pressured by a rally in the US dollar, capital outflows from emerging markets and worries that Prime Minister Narendra Modi's demonetisation move would severely dent growth.
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