| Date: |
04-06-2013 |
| Subject: |
Rupee recovers slightly on global dollar decline |
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Mumbai: The Indian rupee traded stronger at 56.59/60 per dollar versus its previous close of 56.76/77 on the back of the global dollar fall.
All Asian currencies were also trading higher compared with the dollar.
The US dollar wallows at one-month lows against a basket of major currencies suffering a vicious setback after disappointing data curbs and speculation that the Federal Reserve would scale back its stimulus anytime soon.
The domestic currency is seen moving in a 56.50 to 56.90 range during the first-half of the day.
The Reserve Bank of India (RBI) does not target any particular exchange rate, local news channels reported governor D. Subbarao as saying on Monday, citing the Press Trust of India.
Traders will also watch local shares for cues on foreign fund flows. The BSE equity benchmark Sensex was currently trading up 0.3%.
Source : livemint.com
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