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The Indian Rupee opened lower in the early trade on Monday. It has slipped 6 paise to 64.30 per Dollar from Friday’s close 64.24.
Weakness in gold and crude prices will help Rupee to breach hurdle of 64.20/Dollar. Trading range for the spot USD-INR pair will be 64 to 64.50.
The Dollar is mildly higher after hitting a ten-day high last week. Ahead of the US Federal Reserve policy meeting, with markets hoping for more guidance on the central bank's interest rate path.
The USD-INR pair could continue to consolidate ahead of India’s inflation and IIP numbers that will be released later today.
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