The Indian rupee opened marginally lower on June 2, as uncertainty over U.S.-Iran peace talks keeps oil prices volatile, while persistent foreign selling of Indian stocks heaps additional pressure.
Indian rupee opened lower by 5 paise at 95.05 per dollar on Tuesday against Monday’s close of 95.
According to Finrex, the rupee is expected to open at 95.12 levels this morning on a slightly risk off sentiment with most Asian currencies except for Yuan having fallen against the dollar.
The upsides can be sold by the exporters while dips can be bought by the importers as usual as nothing is so far sure on the war front, it added.
Asian currencies traded in a mixed manner against the US dollar. The Indonesian Rupiah emerged as the strongest performer, appreciating 0.427%. The South Korean Won also posted gains, rising 0.057%, while the Thai Baht advanced 0.040%. The Singapore Dollar strengthened by 0.016%, and the Taiwan Dollar edged up 0.006%.
On the other hand, the Japanese Yen and Chinese Renminbi both slipped marginally by 0.006%, while the Philippine Peso declined 0.018%.
The U.S. dollar steadied on Tuesday as markets took a wait-and-see approach to Middle East peace talks, with Lebanon announcing a limited ceasefire between Hezbollah and Israel, although broader geopolitical uncertainties kept traders on edge.
