Rupee up 10 paise against dollar in early trade
Posted on: 10:20 AM IST Mar 21, 2013
Mumbai: The rupee opens higher tracking returns of risk appetite to global markets. The pair is at 54.26/27 versus its close of 54.36/37 on Wednesday. Initially some foreign banks were on dollar offer side, but the pair is seeing interest from both sides, says a private bank dealer. The pair has technical resistance at 200-day DMA of 54.62.
Asian shares inched higher and the dollar was underpinned on Thursday after the US Federal Reserve maintained its commitment to a very accommodative monetary stance, and market nerves over the Cyprus bailout wrangling calmed.
India receives 215.78 billion rupees of order for debt limit auction for the 162.39 billion rupees on offer, dealers said, showing strong appetite. Most Asian currencies trading stronger compared with the dollar.