The rupee fell 13 paise to trade at 95.56 per US dollar on Monday morning pressured by rising crude oil prices and geopolitical strain.
Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally, denting investor sentiments further.
At the interbank foreign exchange market the rupee opened at 95.56, registering a fall of 13 paise from its previous close.
On Friday, the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar.
The rupee opened lower as the dollar index was at 99.62 level, while most other assets fell from their levels on Friday, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The rupee is expected to be in the range of 95.25 to 95.75 with exporters to sell near 95.60 levels and importers to buy all dips that they get with no directional movement being seen in the currencies, Bhansali …
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