Indian rupee opens at 62.19 per dollar; gains 12 paise

Indian rupee gained in the early trade on Wednesday. It opened higher by 12 paise at 62.19 per dollar versus previous day's closing value of 62.31.

According to Himanshu Arora of Religare, dollar-rupee pair is expected to trade slightly higher in today's session amid dollar surging against a basket of currencies and plunging domestic equities.

"Moreover, Fed's recently instigated tapering is also underpinning dollar against the rupee. Range for the rupee is seen between 62.12-62.65/dollar," he added.

Meanwhile, the dollar hovers near a one-month high against a basket of major currencies early in Asia trade, having rebounded smartly overnight on the back of upbeat US trade data.

Also Read - RBI suggests revamping banking system for micro-financing

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