The rupee is seen moving in a 58.40 to 58.90 range in early trade
Mumbai: The rupee rises to 58.60/61 versus its close of 58.7750/7850 on Wednesday, tracking gains in shares after minutes from the Fed's latest policy meeting suggested a slow withdrawal of US stimulus. However, traders anticipate the Reserve Bank of India to step in to buy dollars, curbing gains in the rupee.
RBI also eased gold import rules on Wednesday by allowing more private agencies to ship the precious metal. The central bank and the finance ministry officials will also recommend the new government to relax gold import rules. The rupee is seen moving in a 58.40 to 58.90 range during the session.
( Source : reuters )
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