The rupee on Tuesday took a breather as it opened 2 paise lower at 68.55 against the US dollar after surging 57 paise to close at an over seven-month high of 68.53 on Monday, mainly driven by sustained foreign fund inflows and narrowing trade deficit.
In the last six trading sessions, the rupee has appreciated by 161 paise.
"We have seen large (dollar) inflows in the last few days hitting the market. USD/INR swap window followed by lower trade deficit added to INR strength," Reuters reported on Monday quoting Paresh Nayar, head of trading desk at First Rand Bank in Mumbai, as