The rupee is expected to weaken early on Wednesday on lower regional equities, weaker Asian currencies and likely importer dollar demand.
* The partially convertible rupee should open around 44.70/75 per dollar and move in 44.60-44.80 band, traders said. It had ended 0.2% stronger at 44.67/68 on Tuesday.
* Exporters may sell forward dollars, which could push the forward premia rates down, dealers said.
* At 0254 GMT, the MSCI index of Asian stocks ex-Japan was down 0.97%, and the Nifty India stock futures traded in Singapore were down 0.77%.
* The dollar fell to a one-month low below 79.973 yen on Wednesday as speculative selling pressure intensified after a series of stop-loss orders were triggered around 80 yen.
* But other Asian curencies were all weak.
* The euro was trading at USD 1.4651, compared with USD 1.4660 when the domestic market closed on Tuesday.
* "If the euro rises to USD 1.47, then rupee can breach 44.60 level as well," said a dealer at a foreign bank.
* The index of the dollar against six major currencies was at 73.669 points from 73.651 when the domestic market closed on Tuesday.
Tags: rupee, dollar, Asian currencies, MSCI index of Asian stocks, yen, euro
