Rupee gains 41 paise in opening trade at 60.47/dollar

On Monday the Indian rupee opened higher by 41 paise at 60.47 per dollar versus 60.88 Thursday. "RBI has announced issuance of short-term paper to mop up liquidity in order to stabilise the rupee. The rupee will have a marginal positive reaction, but other asset classes such as bonds and equities will likely be weaker, says Rajeev Malik, CLSA.

August 12, 2013 / 09:43 IST

On Monday the Indian rupee opened higher by 41 paise at 60.47 per dollar as against Thursday's closing price of 60.88.

Rajeev Malik, CLSA said, "RBI has announced issuance of short-term paper to mop up liquidity in order to stabilise the rupee. The rupee will have a marginal positive reaction, but other asset classes such as bonds and equities will likely be weaker. We retain our 2014-end forecast of 65/USD for the rupee."

The euro holds above 1.33 to the dollar. The dollar index was around 81.10 levels, while the dollar yen was around 96.

Also Read - RBI takes further step to stem rupee's slide against USD

first published: Aug 12, 2013 09:05 am

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