| Date: |
08-05-2014 |
| Subject: |
Indian rupee opens at 59.95 per dollar; gains 18 paise |
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The Indian rupee advanced in the early trade on Thursday. It opened higher by 18 paise at 59.95 per dollar versus 60.13 Wednesday.
The dollar index is hovering around 79.20 levels. Against the euro it was steady near 1.39.
Mohan Shenoi of Kotak Mahindra Bank said that, "Bond market experienced a rally triggered by expectations of a decisive mandate in elections. However, the rally is now halted due to profit booking and expectations of higher CPI and WPI next week. Ahead of the auction tomorrow, the 10-year yield is expected to trade in a range of 8.78-8.83 percent."
"Rupee is finding it difficult to sustain below 60/dollar levels. Dollar-rupee is expected to trade in a range of 60-60.35/dollar," he added.
Source : moneycontrol.com
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