Indian rupee recovers, gains 23 paise to 57.75/USD

Indian rupee opened higher by 23 paise in early trade to 57.75 per dollar Friday. Tushar Poddar of Goldman Sachs revised his 12-month target for the rupee to 56/USD from 52/USD earlier.

June 14, 2013 / 09:09 IST

Indian rupee recovered in early trade Friday, rising 23 paise to open at 57.75 per dollar as against previous day's closing of 57.98 per dollar.

Tushar Poddar of Goldman Sachs revised his 12-month target for the rupee to 56/USD from 52/USD earlier.

"Over a 12-month horizon, an improving growth-inflation trade-off and some improvement in the current account deficit could provide some support to the rupee, although at much weaker levels," Poddar said.

first published: Jun 14, 2013 09:09 am

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