Currency Tips for Today: Indian Forex Outlook

Indian rupee is expected to open weaker against the US dollar mainly in a range between 0.3-0.5% vs. 52.31/32 a dollar. It posted a historic low of 52.73 and chance of it getting crossed today is minimal as we believe either recovery in local stocks or RBI`s intervention mood could rather cool down its pace of depreciation. Relying on these two conditions during the day the biased for spot rupee is positive while it is expected to move in a range of 52.00- 52.48.