MUMBAI: The rupee may open lower on Wednesday as weaker Asian stock markets and concerns about a US recession heighten fears that foreign investors may pare their local share holdings, a key driver for the local unit.
The partially convertible rupee ended at 39.265/275 per dollar on Tuesday, above Monday's close of 39.28/29, and within sight of a decade-high of 39.16 hit in November.
Stock indexes in Asian fell between 1-3 percent on Wednesday after a record loss at Citigroup and weak US retail sales entrenched fears the world's top economy may slide into recession.
The partially convertible rupee ended at 39.265/275 per dollar on Tuesday, above Monday's close of 39.28/29, and within sight of a decade-high of 39.16 hit in November.
Stock indexes in Asian fell between 1-3 percent on Wednesday after a record loss at Citigroup and weak US retail sales entrenched fears the world's top economy may slide into recession.
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