Rupee opened lower by 11 paise at 61.67 per dollar as against Friday's closing value of 61.55.
Mumbai: Indian rupee declined in the early trade on Monday. It has opened lower by 11 paise at 61.67 per dollar as against Friday's closing value of 61.55.
Agam Gupta of Standard Chartered feels dollar-rupee will open higher at around 61.70 level mainly reflecting dollar strength overnight. He expects exporters to sell on upticks to 61.80 while the nationalised bank demand will support the pair at 61.50. "The flows are expected to be muted as US markets will remain shut today," he adds.
Meanwhile, the US dollar started Monday near a two-month high, having enjoyed a solid comeback last week after a string of mostly upbeat data convinced markets the Federal Reserve will continue its gradual withdrawal of stimulus.PAGE_BREAK
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