Indian rupee gains in early trade, opens at 54.14/USD

The Indian rupee gained 7 paise in initial trade to 54.14 per US dollar on Thursday as against previous day's close of 54.21 per dollar.

According to Mohan Shenoi of Kotak Mahindra Bank, while rapidly falling crude prices is rupee positive, stabilizing gold prices have triggered demand, which is marginally negative for the rupee.

"The range for the day is seen between 54-54.40/USD," Shenoi added.

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