| Date: |
19-03-2015 |
| Subject: |
Indian rupee opens at 62.38 per dollar; gains 31 paise |
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The Indian rupee gained in the early trade on Thursday following outcome of the Federal Reserve two-day meeting. The currency has opened higher by 31 paise at 62.38 per dollar against 62.69 a dollar Wednesday.
The US dollar drops, after investors priced in a later start and a slower pace for future US rate rises. The euro jumps 3 percent against the dollar.. The US 10-year treasury dips below 2 percent.
Mohan Shenoi of Kotak Mahindra Bank said, “The Fed outcome has halted the dollar rally against major currencies along with stock and bond market rally. Markets in India are expected to follow suit. The rupee is expected to trade today in a range of 62.35-62.70/USD.
Source : moneycontrol.com
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