After a weak opening the rupee slipped further and trading above 74 per dollar mark. It opened lower by 24 paise at 73.92 per dollar versus previous close 73.68.
Indian rupee fell more than 0.5% against the US dollar on the news that Central Bank governor may resign if Govt invokes Section 7 of RBI act to transfer RBI reserves.
Further, weakness in the other Asian currencies coupled with dollar strength this likely to weigh on the Rupee today, he added.
Yesterday rupee closed 24 paise lower against the US dollar.
The dollar-rupee November contract on the NSE was at 73.93 in the previous session. November contract open interest increased 0.85% in the previous session, said ICICIdirect.
We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.
