The Indian rupee erased early gains and declined against the U.S. dollar in evening deals on Monday.
The Reserve Bank of India is expected to maintain its key rates at annual monetary policy review on Tuesday. The repo rate now stands at 7.5 percent.
The rupee declined to a 4-day low of 62.235 against the greenback, off early high of 61.95. The rupee is likely to find support around the 63.00 mark.
The material has been provided by InstaForex Company – www.instaforex.com