Wednesday, 3 May 2017

Indian Rupee opens higher at 64.12 >> click here for more

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The Rupee on Wednesday opened 9 paise higher against the Dollar at 64.12, as exporters and custodian banks sold the greenback in early trade. The local currency had opened at a similar level in Tuesday’s session as well but wiped off most of its overnight gains by the end of the session. Analysts attributed this intraday correction to the Reserve Bank of India (RBI) intervening to stem the rise of the rupee.

“The bias on the rupee is still positive,” said a dealer with a foreign bank. “It is quite likely that we could see another sustained rally from here on.” At 09.07 IST, the rupee was hovering trading at 64.15.

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