| Date: |
07-07-2015 |
| Subject: |
Rupee extends upside, rises 9 paise to 63.31 per dollar |
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The Indian rupee has opened at 63.31 a dollar on Tuesday, up 9 paise compared to 63.40 per dollar in previous session. The currency on Monday ended at highest closing level since April 29.
Ashutosh Raina, HDFC Bank said the expectations of increase in the FII rupee limits coupled with sliding oil prices have helped the USD-INR pair close in on the lower end of Rs 63-64/USD range and further gains may be capped by intervention.
He expects the pair to trade in the Rs 63-63.50/USD range in the short term.
Meanwhile, expectations of an increase in the FII limit have kept the bonds well bid with the 10-year benchmark bond yields nearing 7.70 percent.
Source : moneycontrol.com
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