Pramit Brahmbhatt of Alpari India said the rupee was cheering the dip in current account deficit and steady FII inflows into Indian equity was helping the currency to consolidate further & trade strong.
The euro hovers near a two-month high against the dollar in early trade and within a stone's throw of a two-month peak of USD 1.3873 hit on Thursday just after the ECB decision, following a relief rally when the European Central Bank left its interest rates unchanged.
The dollar yen fetches 103.10 having broken above the 103 yen threshold on Thursday for the first time since late January and pulling away from this week's low of 101.20 yen hit on Monday.
Also Read - Time to buy dollar; see rupee weak, sub 60/$: Mecklai
Pramit Brahmbhatt of Alpari India said the rupee was cheering the dip in current account deficit and steady FII inflows into Indian equity was helping the currency to consolidate further & trade strong.
"A strong euro will provide some positive support. However, there is good chance of strong dollar demand and profit booking at these appeasing levels which may challenge rupee's positive stride. The range for the day is seen between 60.85-61.39/dollar," he added.
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Indian rupee opens at 61 per dollar, up 11 paise
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