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HindustanTimes Sat,19 Apr 2014

Rupee opens strongers in opening trade; at 57.74 vs dollar

Reuters  Mumbai, June 14, 2013
First Published: 09:41 IST(14/6/2013) | Last Updated: 09:53 IST(14/6/2013)

The rupee opened stronger tracking gains in most other Asian peers and a slight recovery in Asian share markets, but the wholesale price-based inflation data due to be released later in the day will be key for direction.

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At 9:01 a.m., the partially convertible rupee was at 57.79/80 per dollar compared to it close of 57.98/99 on Thursday. The unit rose to as high as 57.75 in opening deals.

India's headline inflation probably held near the central bank's comfort level of 5 percent last month, giving it room to ease policy, as commodity, food and fuel costs remained moderate, a Reuters poll found.

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