MARKET NEWS
Weaker dollar, dip in US yields of no help to rupee - REUTERS
By Nimesh Vora
MUMBAI, Feb 5 (Reuters) - The Indian rupee is likely to decline at open on Wednesday weighed by the currency's weakness in the non-deliverable forward markets, while being unable to take advantage of the further decline in the dollar index.
The 1-month non-deliverable forward indicated that the rupee will open at 87.14-87.16 to the U.S. dollar compared with 87.0675 in the previous session.
There "does not seem to be a specific reason" for (dollar/rupee) NDF to be higher, a currency trader at a bank said.
