Rupee opens marginally higher at 60.63 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, September 3, 2014, 9:05 [IST]

The rupee opened marginally higher at 60.63 to the dollar in early trade. The currency had closed at 60.68 on Tuesday.

A steady trend in global equity markets and a surge in capital inflows into Indian stocks has contributed to sharp gains in the rupee in the last two-weeks. Dealers say the currency is likely to trade in a range and the RBI may mop-up dollars to prevent sharp gains in the rupee.

The rupee has recovered from a low of Rs 68.86 against the dollar seen last year to the current levels on the back of a fast improving current account deficit. Check currency rates here

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