Rupee rises early, RBI rate decision awaited

RBI is expected to cut rates for the first time in 3 years to revive sagging growth

The rupee rose in opening deals on Tuesday comforted by gains in the euro, but traders were wary as they awaited the central bank's rate decision around 11 a.m.

The Reserve Bank of India is expected to cut rates for the first time in three years to revive sagging growth, though inflation pressures and a heavy fiscal deficit are concerns.

At 9:01 a.m., the rupee was at 51.61/62 to the dollar, stronger than Monday's close of 51.68.