On Thursday the Indian rupee opened lower by 26 paise at 59.60 per dollar against 59.34 Wednesday.
Agam Gupta, Standard Chartered Bank said, "Ben Bernake's speech was slightly more dovish than the market expected. It will keep the rupee stable and also check the dollar from strengthening further. The market will continue to focus on the impact of recent RBI moves and watch out for any further measures. The range for the day is seen between 59.15-59.55/USD."
The euro holds above 1.31 to the dollar. The dollar index was below the 83 mark, but steady as Federal Reserve Chairman Ben Bernanke still left intact the prospect of the Fed scaling back stimulus later this year.
Agam Gupta, Standard Chartered Bank said, "Ben Bernake's speech was slightly more dovish than the market expected. It will keep the rupee stable and also check the dollar from strengthening further. The market will continue to focus on the impact of recent RBI moves and watch out for any further measures. The range for the day is seen between 59.15-59.55/USD."
The euro holds above 1.31 to the dollar. The dollar index was below the 83 mark, but steady as Federal Reserve Chairman Ben Bernanke still left intact the prospect of the Fed scaling back stimulus later this year.
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