MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers.
Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session.
The dollar index fell 1.8% last week, the worst performance since mid-July.
Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said.
"And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.
Persons:
Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil
Organizations:
U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson
Locations:
MUMBAI, Asia, U.S