Rupee opens flat ahead of RBI policy meet
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Mumbai, Dec. 3 -- The Indian rupee on Tuesday opened little changed against the US dollar amid caution ahead of the Reserve Bank of India's bi-monthly monetary policy meeting starting today. Asian currencies were mixed as uncertainty over the phase one trade deal grew amid US-China disputes over human rights violations in Hong Kong.
At 9.10 am, the domestic currency was trading at 71.65 a dollar against Monday's close of 71.66. The Indian unit had opened 71.66 a dollar.
The three-day meeting of the central bank starts today and the policy statement is due on Thursday. Eight of 10 economists and treasury heads surveyed by Mint expect RBI's monetary policy committee (MPC) to cut the repo rate at which RBI lends to banks by 25 basis points...
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