The rupee movement today is expected to be in a narrow range aided by dollar sales by the custodian banks and exporters, says NS Venkatesh of IDBI Bank.
The Indian rupee has gained further ground on Wednesday. It has opened higher by 6 paise at 62.08 per dollar versus 62.14 Tuesday.
The dollar nears one-month lows against the yen as US yields continued to shrink, but it scaled a nine-year peak on the euro as bolder stimulus from the European Central Bank seemed imminent.
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NS Venkatesh of IDBI Bank said, "The rupee movement today is expected to be in a narrow range aided by dollar sales by the custodian banks and exporters. The rupee is expected to take cues from the equity markets. The range for today is seen between 62.09-62.20/dollar."
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