USD/INR: Rupee Gains in Early Trade, Likely to Remain Weak on Firm Dollar

USD/INR: Rupee Gains in Early Trade, Likely to Remain Weak on Firm Dollar

The Indian rupee started on a firm note on Thursday but the strong U.S. dollar and high oil prices will put pressure on the battered Asian currency.

The USD/INR opened about 6 paise stronger at 74.215 against the U.S. currency, up from Wednesday's close of 74.27. The rupee has lost over 170 paise so far this month and weakened about 13 paise in the last four trading weeks.