The rupee recoups all its losses from the previous session to gain against the dollar amid cautious trading and reduced liquidity with many markets closed for holidays.
According to Bloomberg, the domestic currency was last trading at 82.7813 per dollar, after falling 9 paise to close at 82.8650 in the previous session on Friday.
“The rupee may open at 82.84 against the dollar and remain in a range of 82.60 to 83.20 as we approach the month end, quarter end and year end,” said Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors.
“Asian currencies were flat and so were all Asian equities. With today being a US holiday, there will be no cash demand for the dollar and until the RBI protects the rupee, we may see it hovering around 83.00. Exporters may sell the USD/INR near 82.90, while importers will likely buy dips for all near-term payables,” he added.
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