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The Indian rupee opened lower against the dollar on Thursday, tracking a decline in most Asian currencies as investors reviewed the minutes of July Federal Reserve meeting.
The rupee was trading at 79.6150 per U.S. dollar, compared with 79.4450 in the previous session.
The policymakers in Fed July meeting minutes comment that the U.S. central bank will want to rein in the pace of rate hikes in upcoming meetings, but rates likely to remain uncomfortably high to bring inflation to 2 per cent target. The minutes had a balanced tone, Morgan Stanley said in a note.
The minutes revealed a firm commitment to remain on an aggressive path of policy tightening, beyond a higher short-run neutral level, and maintain that higher level for longer"
The dollar index was little changed at 106.62. The support for the USD/INR is seen at 79.20-79.30, and resistance at 79.70-79.80.
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