Indian rupee weakens against dollar

The rupee movement to the dollar will be triggered by US inflation numbers which are expected to come out on Wednesday.

“Rupees are traded with small losses that fall under 79.65 because the dollar index is traded positively above $ 108 Rupee range can be seen between 79.25-79.75,” said Jateen Triveedi, Vice President, Research Analyst, LKP Securities.

Trivedi said the price of crude oil down below $ 100 could be a positive trigger for rupees, but the inflation rate at night from the US would provide a big trigger for the rupee movement to the dollar.