The Indian rupee opened at 61.50 a dollar on Tuesday, down 8 paise compared to Friday's closing value of 61.42 per dollar.

Ashutosh Raina, HDFC Bank says the USD-INR currency pair has been trading in 61-62/dollar range with appreciating bias, although the strong suspected RBI intervention has capped the gains so far.

The euro held onto modest gains, bouncing off an 11-year low as investors decided to take profits on extremely bearish positions. Also the the rouble weakened as Standard & Poor's cut Russia's sovereign credit rating to junk status, bringing it below investment grade for the first time in a decade.

Source:- moneycontrol.com