Rupee loses 22 paise, opens at 62.05 vs US $

Mumbai: The rupee opened on Friday with a marginal loss of 22 paise at 62.05 per dollar ahead of RBI policy against 61.78 on Thursday.

Himanshu Arora, Religare said, "Dollar is likely to continue its slide which may attract foreign funds into the country, pushing rupee higher. In the wake of the Fed's recent move, RBI may rollback its cash tightening measures to support the rupee. RBI is expected to keep the policy rate and the CRR unchanged. The range for the day is seen between 61.20-62.10/USD."

The dollar recovered a tad but gains are limited on continued low interest rates in the US. The euro continues its good run at 1.35/USD and the yen trades at 99.58/USD.