Rupee Opens at 62.51 Against the Dollar; Gains Further Ground

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, January 9, 2015, 9:06 [IST]

The rupee gained further ground against the dollar rising to 62.51 as against its previous closing of 62.57 against the dollar. Gains were seen largely as global markets saw a good rally on the back of strong economic data from the US.

The rupee may continue to show strength and would depend much on global data and global cues. A risk averse attitude in equities could also drag the rupee lower. All eyes are now on the elections in Greece which could be the next big trigger for the markets.

A decline in crude prices will be good for the rupee, given that dollar outflows is heavy on account of payment for imported crude.

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