Rupee opens strong at 60.77 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, September 19, 2014, 9:05 [IST]

The rupee opened the day strong at 60.77 to the dollar as against its Thursday close of 60.83. The gains seen on Thursday and early Friday morning was largely on hopes that the US Federal Reserve would keep interest rates low for a longer period of time.

The rupee and stocks rallied in tandem on Thursday and the trend is likely to continue into Friday.

The rupee had fallen last week on fears of an earlier than expected interest rate rise in the US. The currency is now expected to trade in a range in the absence of any major triggers. Check currency rates here

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