| Date: |
28-08-2014 |
| Subject: |
Indian rupee opens higher at 60.39 per dollar |
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The Indian rupee opened marginally higher at 60.39 per dollar on Thursday as against previous day's closing value of 60.45 a dollar.
The dollar softened a bit yesterday as traders focused on riskier currencies, while the battered euro continued to drift down amid speculation that the European Central Bank will resort to quantitative easing.
Mohan Shenoy of Kotak Mahindra Bank said, "As long as US economic data is mixed, currency markets will not expect US Fed to raise interest rates. Consequently, dollar strength against major global and EM currencies will only be gradual."
"In the absence of any fresh triggers rupee is expected to trade in a narrow range of 60.35-60.60/dollar today," he said.
Source : moneycontrol.com
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