Rupee gains 8 paise; opens at 66.35 per dollar

The Indian rupee gained in the early trade on Wednesday. It has opened higher by 8 paise at 66.35 per dollar versus 66.43 Tuesday.Bansi Madhavani of India Ratings said, "Positive surprise on domestic CPI inflation is expected to lead to softening bond yields as also support rupee.""The 10-year yield could soften by 2-4 bps in the opening session while rupee is likely to stay in range of 66.15-66.85/dollar. Global cues to watch for are crude oil price movement and dollar trajectory," he added.Also Read - RBI monetary policy: How it impacts your financesThe dollar rebounded from a more than seven-month low against a basket of currencies led by gains versus the safe-haven yen. Gains in oil also drove a rally in commodity-linked currencies such as the Australian and Canadian dollars.