Rupee opens higher at 61.90 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, September 27, 2013, 9:10 [IST]

After good gains reported on Thursday, the rupee continued to gain momentum breaching the 62 levels to trade at 61.90 to the dollar in early trade. The rupee was last trading at 61.90, a gain of 17 points over Thursday's closing.

Dealers say that the rupee lacks any major cues in the next few weeks and would now look to the credit policy later next month and the US Federal Market Open Committee meet also next month.

The rupee has recovered from a historic low of 68.81 earlier this month, to the current level of 61.90 level.

A number of moves by the RBI has helped pull the rupee higher. Dealers say that the RBI may intervene to sell dollars as it may not like to let the rupee appreciate, dramatically as this could affect exports.

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