Rupee opens flat at 39.38/39 against US dollar

Mumbai, Jan 29: Rupee opened flat at Rs 39.38/39 against US dollar today as traders awaited RBI announcement on interest rates. Gains in the stock market was expected to keep sentiments buoyant on expectations of capital inflows, dealers said. Later in the day the rupee fluctuated in a narrow range of 39.36 and 39.40 per dollar during the mid morning session.

Traders were expecting that the repo rate would be cut from 7.75 to 7.50 on basis points by RBI's announcement this noon.

UNI