Rupee edges up at open; seen rangebound during day

The rupee is trading at 60.13/14 marginally below above previous close of 60.17/18.

However, the rupee is expected to continue to remain in a tight range ahead of the budget on July 10 with the geo-political situation in Iraq and Reserve Bank of India intervention being closely monitored.

Traders will monitor the domestic share market for clues on the direction of foreign fund flows. The BSE Sensex is trading up 0.34 %.

The dollar languished at seven-week lows against a basket of major currencies on Tuesday, having extended a month-long decline after a recent batch of mixed data cast doubts on the strength of the U.S. economic recovery.