Monday, 15 May 2017

Rupee gains 18 paise at 64.12 in opening trade

The Indian rupee gained in the early trade on Monday. It has opened higher by 18 paise at 64.12 per dollar versus 64.30 Friday. "Weak economic data released on last Friday as well as positive cues from domestic equity market may trigger a fall in the dollar." "The rupee may breach 64.20/dollar levels and the spot USD-INR pair is likely to trade in the range of 64-64.40/dollar." The dollar index is slightly lower against a basket of major currencies after US economic data came in shy of expectations and another missile test by North Korea over the weekend underpinned the perceived safe-haven yen.

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