| Date: |
30-04-2014 |
| Subject: |
Indian rupee opens at 60.61 per dollar, gains 10 paise |
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The Indian rupee opened higher by 10 paise at 60.61 per dollar on Wednesday as against previous day's closing value of 60.71 a dollar.
NS Venkatesh of IDBI Bank said that, "The Fed is expected to continue with the cut in asset purchase programme by USD 10 billion. The tone is expected to remain dovish and, as a result, dollar is expected to weaken marginally in today's trade."
"The rupee is expected to trade in a range of 60.20-60.40/dollar," he added.
Meanwhile, the euro nursed broad losses early on Wednesday, having been put under pressure by soft German inflation numbers renewed pressure on the euro helped the dollar index snap a five-session losing run.
While the yen stayed on the defensive ahead of a policy decision by the Bank Of Japan.
Source : moneycontrol.com
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