| Date: |
02-04-2014 |
| Subject: |
Indian rupee opens higher at 59.82 per dollar |
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Indian rupee opened with a marginal gain of 9 paise at 59.82 per dollar on Wednesday as against Friday's closing value of 59.91 a dollar.
Himanshu Arora of Religare said the dollar was expected to strengthen after two days of weak closing as subdued data like the PMI from global markets, especially China may dent rupee's recent robust movement.
"Moreover, some consolidation seen in equities may also cap rupee's strength. The impact of dollar buying by banks and OMCs is yet to be seen. The range for the day is seen between 59.70-60.25/USD," he added.
Meanwhile, the Japanese yen found little reprieve, the only major currency showing a clear trend as risk appetite stayed buoyant.
The euro drifted up to USD 1.3794, continuing to recover from a one-month low of USD 1.3704
Source : moneycontrol.com
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