The Indian rupee is expected to open lower versus the dollar on Monday as protests in China against COVID restrictions dented demand for Asian currencies and shares.
The rupee is tipped to around 81.85 per U.S. dollar in early trades, against 81.6850 in the previous session.
After opening lower, the rupee should receive "decent" support at around the 81.90 levels, a trader at a Mumbai-based bank said.Apart from that, the rupee should be helped by the oil prices, the trader added. Brent crude declined more than 2% to below $82 per barrel, the lowest level since January. Chinese stock prices and U.S. equity futures declined alongside the yuan. Protests simmered in Shanghai early on Sunday as residents in several Chinese cities pushed back against COVID-19 curbs.To help the economy, the nation's central bank said on Friday that it would cut the reserve requirement ratio for banks by 25 basis points.
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