The Indian rupee is expected to open lower on Tuesday, weighed down by the recovery in the dollar index and a decline in Asian peers. Non-deliverable forwards indicate rupee will open at around 82.85 to the U.S. dollar, down from 82.7425 on Monday. The dollar index rose in Asia, and has now recovered a large part of its losses suffered post the U.S. jobs data. Asian currencies were down between 0.2% and 0.6%, with the offshore Chinese yuan slipping to 7.2250 to the dollar.
Non-deliverable forwards indicate rupee will open at around 82.85 to the U.S. dollar, down from 82.7425 on Monday.
"With Asia down, we are back to that level at which interbank will be on the public sector bank watching mode," a forex trader at a bank said. "It does not require saying that the whole of the 82.80-83.00 region is critical. You take out 83 and we will have a round of major stop losses," the trader said.
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