| Date: |
15-04-2015 |
| Subject: |
Indian rupee opens at 62.37 per dollar; gains 14 paise |
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The Indian rupee has opened higher on Wednesday. It has gained 14 paise at 62.37 per dollar versus 62.51 Monday.
The dollar slipped as investors took advantage of weaker-than-expected US retail sales to lighten hefty positions on the greenback that had built up due to expectations of an impending rate increase.
Himanshu Arora of Religare said, "Rupee is expected to strengthen today against the dollar amid a wave of optimism as IMF, for the 1st time projected India's growth at a better pace than China and its BRIC peers. Lower oil prices, along with government's recent initiatives towards reforms have been cited as primary factors for the same."
He further added, "The IIP data may continue underpinning rupee in the short-term. Range for the rupee is seen between 62.32-62.70/dollar."
Source : moneycontrol.com
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