The Indian rupee opened with a marginal gain of 8 paise at 61.98 per dollar on Tuesday as against previous day's closing value of 62.06 a dollar.
The dollar steadied against its rivals as traders seek more clarity on the pace of the US economic recovery after a series of soft data releases in the past few weeks. Ashutosh Raina of HDFC Bank said, "The markets have been by and large fairly rangebound in recent past.
We saw a knee jerk reaction after the Fed minutes but markets across asset classes have rallied after that. The Sensex and rupee have been no exceptions." "Dollar-rupee is back in the 61.50-62.50/USD range.
The near-term range for the rupee is seen between 61.50-62.50/USD," he added.
Source:- moneycontrol.com
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