| Date: |
05-05-2014 |
| Subject: |
Indian rupee opens higher at 60.09 per dollar |
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The Indian rupee opened with marginal gains of 7 paise at 60.09 per dollar versus 60.16 Friday.
The dollar got off to a cautious start having staged a curious reversal late last week that saw it erase all of the gains sparked by a strong payrolls report.
Against the yen, the dollar was back at 102.20, having retreated from a near one-month peak of 103.03. The euro, which fell as low as USD 1.3812, recovered to USD 1.3874.
Agam Gupta of Standard Chartered said that, "Rupee to trade in a narrow range of 59.85-60.25/dollar.”
“Expect nationalised banks to buy below 60/dollar and exporters to sell on upticks until 60.25/dollar," he added.
Source : moneycontrol.com
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