Mumbai: Rupee opened weak at Rs 40.53/54

Mumbai, June 6: The Indian Rupee opened marginally weak at Rs 40.53/54 from its yesterday's finish of Rs 40.52/53 in a quiet trading on the second consecutive day at the interbank foreign exchange (forex) market today.

The local currency which has been seen rising continuously witnessed activity in a restricted range in last two days, possibly because of the presence of the Reserve Bank of India (RBI) in the market, said a senior forex dealer.

Commenting on the trend, leading forex firm Kanji Partner Gautam Ashra and Pitamber opined that the rupee was expected to rise further. The trend in the market indicates the same, he said.

The rupee which made a slightly weak start and held steady in the morning session, with not much activity from importers as well exporters, dealers said.

UNI