Rupee Holds On To Its Gains, Opens At 62.25 Vs Us Dollar

The rupee on Thursday continued its advances and opened at 62.25 versus US dollar after closing at 62.44 on Wednesday.



The rupee ended 31 paise higher at 62.44 on Wednesday versus the dollar as exporters and some banks sold the US currency, which weakened in the overseas market.



Pramit Brahmbhatt, CEO, Alpari India said, "The euphoria of positive measures by Fed has lost its sheen due to a dampener by RBI last week and hence, rupee has been trading weak.



Rupee holds on to its gains, opens at 62.25 vs US dollar The rupee ended 31 paise higher at 62.44 on Wednesday versus dollar as exporters and some banks sold the US currency, which weakened in the overseas market.



"Rupee is expected to trade with a weak bias owing to choppy equities, weak sentiment in Asia and strong dollar demand by importers. The range for the day is seen between 62.20-63.30/USD," he added.



The euro slipped against the dollar to just below 1.35 undermined by German sentiment data that was slightly below expectations and comments from European Central Bank officials saying they were prepared to do more to support the region's fragile recovery.

Source:- ibnlive.in.com