| Date: |
14-10-2014 |
| Subject: |
Indian rupee opens at 60.93 per dollar; rises 15 paise |
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The Indian rupee gained in the opening trade on Tuesday. It rose 15 paise to 60.93 per dollar versus previous day's closing value of 61.08 a dollar.
The dollar fell against a basket of major currencies on persisting concerns about global economic growth and worries that the Federal Reserve may delay its first interest rate hike.
Ashutosh Raina of HDFC Bank said, "The global growth concerns are back to haunt the markets, resulting in re-emergence of risk-off sentiment. The WPI inflation number, declared after market hours yesterday, should cheer the markets."
He further added, "The rupee continues to trade in a range. Expect the currency to trade in a 60.50-61.50/dollar range, with an appreciating bias."
Source : moneycontrol.com
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