| Date: |
03-02-2015 |
| Subject: |
Indian rupee opens at 61.62 per dollar; up 18 paise |
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The Indian rupee gained in early trade on Tuesday. It has opened higher by 18 paise at 61.62 per dollar versus 61.80 Monday.
The dollar holds steady against the yen and euro. Meanwhile the Canadian dollar and Norwegian crown held onto strong gains following a rebound in oil prices.
Abheek Barua, Consultant at ICRIER, feels the Reserve Bank should cut rates in today's policy as inflation has seen a dramatic decline. Stating that stage is set, Barua expects a 25-bps rate cut in today's credit policy. He sees January CPI at around 5.6 percent to 5.7 percent.
Source : moneycontrol.com
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