Mumbai: The Indian rupee opened marginally lower in early trade on Thursday. It slipped 11 paise to 60.24 per dollar versus Wednesday's closing value of 60.13 a dollar.
Mohan Shenoi of Kotak Mahindra Bank said, "Risk-on in global markets is resulting in FII flows into India keeping rupee well supported. Dollar buying by RBI and month-end demand from oil companies could, however, prevent significant appreciation. Rupee is expected to trade in a range of 59.90-60.30/dollar."
"Ahead of FY15 borrowing calendar and RBI monetary policy, the bond market is expected to be cautious and rangebound. The range for the 10-year is seen between 8.76-8.81 percent," he added.
The euro was on the defensive after comments from European Central Bank officials this week raised fresh speculation on further monetary easing to stave off potential deflation. The yen stood near one-week high against the dollar, drawing some support from renewed concerns over Ukraine.
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