Indian rupee opens at 60.10 per dollar, up 7 paise.

​The Indian rupee opened higher by 7 paise at 60.10 per dollar on Tuesday as against previous day's closing value of 60.17 a dollar.

The dollar languishes at seven-week lows against a basket of major currencies, having extended a month-long decline after a recent batch of mixed data cast doubts on the strength of the US economic recovery.

Ashutosh Raina of HDFC Bank said, "The rupee has been trading in the 59.80-60.50/dollar range for many trading sessions now. The geo political tension in Iraq and suspected Central Bank intervention have prevented the currency from gaining beyond 60/dollar."

"The rupee may continue to trade in this range till the new government announces its first budget on July 10," he added.

Source : moneycontrol.com