MUMBAI, Sept 18 - The Indian rupee is expected to open slightly higher on Monday with expectations around intervention by the central bank offsetting concerns over elevated crude oil prices and a widening trade deficit.
It will be difficult for the dollar to take out its life time high due to Reserve Bank of India's presence, said Ritesh Bhansali, director at Mecklai Financial. The rupee sold off in the last half hour of Friday's session, which traders attributed to the trade deficit data and position adjustment heading into the weekend.
"Trade deficit has been rising for the last few months, led by wider net non-oil non-gold imports," IDFC First Bank said in a note.
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