| Date: |
05-02-2014 |
| Subject: |
Rupee up 10 paise, opens at 62.42 vs US dollar |
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Mumbai: Rupee opened higher by 10 paise at 62.42 per dollar on Wednesday as against previous day's closing value of 62.52 a dollar.
Ashutosh Raina of HDFC Bank believes the markets are now gearing for the Friday's US jobs report which can provide cues to the future course of markets. "Indian markets have been fairly resilient in the face of this global sell off. Equity and currency markets have performed better than majority of the other EMs. Dollar-rupee is back in 62.0-63.0 range with an appreciating bias," he adds.
The yen got off to a weak start in Asia on Wednesday having retreated from multi-month highs as emerging markets stabilized and stocks rebounded, while the Australian dollar took a breather following a powerful rally.
Against the US dollar, the euro was slightly softer at USD 1.3516, holding near a two-month low of USD 1.3476 amid caution that the European Central Bank (ECB) could sound more dovish at Thursday's policy review.
Source : ibnlive.in.com
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