| Date: |
24-03-2015 |
| Subject: |
Indian rupee opens higher at 62.20/dollar |
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The Indian rupee has opened higher at 62.20 a dollar on Tuesday against previous day's closing value of 62.27 a dollar.
Ashutosh Raina, HDFC Bank said the dovish comments from the Fed after the last week's FOMC meet resulted in dollar plunging from recent highs. The USD-INR pair has been consolidating in the Rs 62-63/USD range, supported by strong intervention, he added.
The bank expects the currency pair to consolidate around current levels.
The US dollar fell against a basket of major currencies after traders unwound bullish dollar positions on the likelihood that Federal Reserve policy will be accommodative over the near term.
Source : moneycontrol.com
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