| Date: |
09-06-2015 |
| Subject: |
Indian rupee opens at 63.97 per dollar; gains 11 paise |
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The Indian rupee recovered a bit in the opening trade Tuesday. It has gained 11 paise at 63.97 per dollar against previous day's closing value of 64.08 a dollar.
Ashutosh Raina of HDFC Bank said, "The USD/INR currency pair breached the psychological 64 figure comfortably after the US jobs report and dollar strength across the board. With the underlying bullish dollar trend still intact, we should expect the pair to trade with a weakish bias."
"Expect the rupee to trade in 63.80-64.30 range for today. Any breach of 64.30/dollar can open the gates for 65.25/dollar," he added.
The dollar steadied against major counterparts managing to regain its footing after a sharp drop against the euro on solid German data and higher bund yields. The dollar index holds above the 95 mark.
Source : moneycontrol.com
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