The Indian rupee opened lower by 8 paise at 69.05 per dollar on Wednesday versus Tuesday's close 68.97.
On Tuesday the rupee ended 44 paise lower at 68.97 on the back of rising crude, demand for the greenback from importers and remain caution ahead of the outcome of the FOMC meeting.
Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers said, "The rupee has depreciated yesterday on account of importers demand at lower levels. However, broad sentiments remains positive due to FIIs inflows in the debt and equity market."
The dollar-rupee March contract on the NSE was at 69.05 in the previous session. March contract open interest declined 8.27% 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.
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