Market News
Rupee to open nearly flat, holds upper hand as dollar remains vulnerable - REUTERS
MUMBAI, May 27 (Reuters) - The Indian rupee is expected to open nearly unchanged on Tuesday but traders reckon that the currency will trade with an upward bias in the near term as concerns about U.S. trade and fiscal policies continue to cast a shadow on the greenback.
The 1-month non-deliverable forward indicated an open in the 85.07-85.10 range, versus 85.0850 in the previous session.
The rupee climbed to a two-week high of 84.79 on Monday but shed some of its gains in the face of dollar bids from a large state-run bank and local oil companies, traders said.
