Rupee seen higher after dollar tumbles on positive risk mood
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The Indian rupee is tipped to open higher against the U.S. currency on Tuesday as a slide in U.K. yields boosted risk appetite and hurt demand for the safe-haven dollar.
The rupee is expected to open at around 82.20-82.25 per dollar, up from 82.35 in the previous session, when it traded in a roughly six-paisa range.
"We reckon that after the opening dip (on USD/INR), we will probably have another quiet session, like yesterday, or the dollar drifts higher back to the 82.40 level," a trader at a Mumbai-based bank said.
The chances of the rupee adding to its opening advance "are quite low" given the likelihood of decent dollar buy orders at around 82.10-82.15, the dealer said.
The rupee in recent sessions has repeatedly struggled to breach that level.
