The Indian rupee opened the day higher once again in trade today, gaining 20 paise over Wednesday's close of 63.18. The currency was last trading 63.18 to the dollar.
The rupee has so far gained almost 7 per cent this month and dealers say that it could now stabilise around the current levels and wait for cues from the Federal Open Market Committee meet scheduled for September 18 and Sept 19.
Should the US Federal Reserve decide to taper off its asset purchase programme it could have some reaction on the rupee.
For the next few days it is believed that the rupee would continue to witness some stability.
Encouraging trade data and a morale boost with the appointment of new RBI Governor Raghuram Rajan has helped recovery in the rupee so far this month. For currency rates click here
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