Rupee slips marginally, opens at 68.55 against US dollar

In the last six trading sessions, the rupee has appreciated by 161 paise

Market News:The rupee on Tuesday chilled out as it opened 2 paise lower at 68.55 against the US dollar in the wake of flooding 57 paise to close at a more than seven-month high of 68.53 on Monday, essentially determined by continued outside store inflows and narrowing exchange shortage.

In the last six exchanging sessions, the rupee has increased in value by 161 paise.

"We have seen substantial (dollar) inflows over the most recent couple of days hitting the market. USD/INR swap window pursued by lower exchange deficiency added to INR quality," Reuters provided details regarding Monday citing Paresh Nayar, head of exchanging work area at First Rand Bank in Mumbai, as saying.

Financial specialists are bullish on the Indian rupee without precedent for about a year, a Reuters survey indicated a week ago, as an ongoing flood in prevalence of the nation's decision party is required to look good for its coalition in the up and coming national races.Click here to read full Article.

Business Standard