| Date: |
20-10-2014 |
| Subject: |
Indian rupee opens at 61.20 per dollar; gains 24 paise |
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The Indian rupee advanced in the early trade on Monday. It has opened higher by 24 paise at 61.20 per dollar against 61.44 Friday.
Dollar gained after upbeat data restored some calm to the financial markets, prompting equities to rally back from deep losses and triggering a rise in treasury yields.
Agam Gupta of Standard Chartered said, "The diesel price decontrol and the state election results will support risk appetite. Expect exporters to sell on upticks to 61.35-61.40/dollar and local government banks to be buyers of USD on dips towards 61.05-61.10/dollar."
"Expect the rupee to trade in the range of 61.05-61.40/dollar," he added.
Source : moneycontrol.com
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