The Indian rupee opened the day at 88.67 against the US dollar in the interbank foreign exchange market, slipped briefly to 88.69, and then inched back to 88.68 in early deals — settling at a loss of 8 paise from the previous close.
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Market snapshot
- Opening: 88.67 per US dollar
- Intra-session dip: 88.69
- Initial deals level: 88.68
- Change: Down 8 paise from prior close
What this movement suggests
The early, modest weakening points to cautious trading in thin opening liquidity. Small intraday swings like this often reflect short-term demand for the greenback in early trade rather than a major directional shift.
Factors traders will watch
- Global dollar strength and US economic cues
- Oil prices, which affect import bills and external balances
- Foreign portfolio flows and short-term capital movements
- Domestic policy signals or central bank commentary
For now, the rupee’s move is small and market participants are likely to await further domestic data and global cues before taking bigger positions.