Rupee Finally Gains Ground; Opens at 63.35 to the Dollar

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The rupee finally gained ground against the US dollar as global cues remained strong after the US Fed hinted at strong economic growth. The rupee was up 26 paise at 63.35 against the Dollar with markets across the globe rallying following the US Fed comments that raised hopes that interest rate hikes in the country would take longer. 

Rupee Finally Gains Ground; Opens at 63.35 to the Dollar
Dealers say this was good news after a long time after the Russian Rouble Collapse had sentimentally affected other emerging market currencies.

The rupee has been closing sharply lower against the US dollar through the week and today's gains were welcome by the forex markets. However, analysts say that the currency might stay under pressure as global fundamentals continue to remain weak. Check rupee rates here

Read more about: dollar
Story first published: Thursday, December 18, 2014, 9:10 [IST]
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