| Date: |
15-10-2014 |
| Subject: |
Indian rupee extends gains on global US dollar recovery |
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Indian rupee extends gain to trade at 61.31/32 against US dollar versus Monday's close of 61.0950/1050.
Pair had earlier hit 60.90, its lowest level since Sept. 23.
But worries about global economic growth sparks a recovery in the dollar from recent falls.
Dollar demand also helped by pent-up demand after US markets were closed on Monday.
Demand for dollars from defence companies also driving the pair higher.
Traders also cite caution ahead of elections in India's western Maharashtra state on Wednesday.
Source : financialexpress.com
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