In the absence of global cues, the rupee has now settled in a new range of 60.80-61.70/dollar. Today, the rupee is expected to trade in a tight range of 61.10-61.35/dollar
The Indian rupee gained 11 paise at opening trade on Thursday at 61.10 per dollar versus 61.21 Wednesday. Dollar slips against most currencies after data showed US retail sales were flat in July after gains the previous month. The report, which suggested the Federal Reserve would not be hard-pressed to raise interest rates any time soon, pushed the dollar to one-week lows against a struggling euro.
The Indian rupee gained 11 paise at opening trade on Thursday at 61.10 per dollar versus 61.21 Wednesday. Dollar slips against most currencies after data showed US retail sales were flat in July after gains the previous month. The report, which suggested the Federal Reserve would not be hard-pressed to raise interest rates any time soon, pushed the dollar to one-week lows against a struggling euro.
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