The Indian rupee opened flat at 61.48 per dollar versus 61.51 Wednesday.
Britain's pound fell to a 14-month low against the dollar on Wednesday as investors pushed back rate-increase expectations to late 2015 after the Bank of England forecast low inflation.
The dollar rose more modestly against other major currencies. Mohan Shenoi of Kotak Mahindra Bank said," Gradual dollar strength is continuing globally.
The USD-INR is expected to trade today in a range of Rs 61.20-61.50/dollar, says Mohan Shenoi of Kotak Mahindra Bank.Better than expected IIP and CPI data is positive for Indian stock markets which should keep rupee well supported. The USD-INR is expected to trade today in a range of Rs 61.20-61.50/dollar."
Source:ibnlive.in.com
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