Rupee Dips 5 Paisa Against Dollar, Traders Cautious Amid Rate Cut Hopes

• Rupee opens marginally down at 90.65 against the dollar, a 5 paisa drop from the previous close of 90.60.
• Traders remain on the sidelines as US inflation data strengthens the case for Federal Reserve rate cuts.
• US consumer prices slowed to 2.4% in January, putting the dollar on the backfoot with the dollar index at 96.92.
• Importers are actively hedging positions, finding current levels attractive to buy the greenback.
• RBI likely intervened by selling dollars to prevent sharp rupee appreciation, maintaining a 90.40-90.80 range.