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Indian rupee opens lower at 66.75 per dollar

The Indian rupee declined in the early trade on Wednesday. It has opened lower by 9 paise at 66.75 per dollar versus 66.66 Friday.

“Rupee consolidated in the last couple of sessions but gained marginally after RBI announced that FPIs would be able to invest in shorter-term maturity bonds. The Reserve Bank of India has clarified that foreign investors can also invest in treasury bills along with government securities of all maturities, said Motilal Oswal.

“Investment by an FPI in corporate bonds with residual maturity of below one year is capped at 20% of that foreign investor’s total holding of corporate securities.”

For the day, the rupee is expected to quote in the range of 66.70 and 67.25, it added.

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