For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee trading with gains at 62.26 to the dollar

|

The rupee was trading with gains of 14 paise over Thursday's close of 62.40. The rupee has been trading steady in the last few weeks, thanks to a series of measures unveiled by the Reserve Bank of India and the government.

The currency had fallen to a record low of 68.81 against the dollar and in the last two months has seen an almost 10 per cent recovery.

Forex markets are expected to exhibit less volatility at least until the outcome of the state elections are known early next month. Following this, the next big trigger for the rupee would be the Federal Reserve meeting slated for December 17 and December 18, following which a decision on QE3 tapering is likely to be taken.

 

Any QE3 tapering done could pose a risk to the stock markets and could impact the Indian rupee. Until then dealers do not expect any volatility in the stock markets. Check currency rates here

GoodReturns.in

Story first published: Friday, November 29, 2013, 10:12 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more