| Date: |
30-04-2013 |
| Subject: |
Indian Rupee opens higher at 54.11/dollar |
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The Indian rupee gained 14 paise in opening trade at 54.11 per dollar on Tuesday as against previous day's close of 54.25.
The dollar is at one and a half week lows versus major currencies as slowing inflation puts pressure on the Federal Reserve for more action. The euro was above 1.30 per dollar.
Jayesh Mehta, Bank of America said, "Month-end equity flows and lower global crude and gold prices are helping the rupee to stay below the 55/USD mark. However, constant dollar demand from banks is preventing further strengthening of the rupee. The range for the day is seen between 54.20-54.50/USD."
Source : moneycontrol.com
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