| Date: |
31-12-2014 |
| Subject: |
Indian rupee opens higher at 63.31 per dollar |
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The Indian rupee opened with marginal gain of 7 paise at 63.31 per dollar on Wednesday versus 63.38 a dollar on Tuesday.
Himanshu Arora of Religare said, "USD-INR pair is expected to trade lower today amid a data release that IMF has raised global forecast for the year 2015. This may cap dollar upmove against basket of currencies.”
“Technical bounce in rupee which is currently trading in oversold zone may also support prices. Suspected selling of dollars by state-run and foreign banks was seen yesterday and may continue today. Range for the day is seen between 63.12-63.52/dollar," he added.
Yen gains against the dollar and euro as investors seek the traditional safety of the Japanese currency.
Source : moneycontrol.com
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