Reuters Market Eye - The rupee opens higher, tracking gains in regional stocks, FX. Pair at 54.77/78 versus 54.82 open, previous close of 54.86/87. The unit rose on USD selling by custodian banks, though not major.
Foreign bank dealer says 54.70 should be a good level to go long. Pair likely in 54.68-54.90 band in session.
Local stocks open with gains, up 0.65 percent. Asian shares rebounded after a sharp sell-off triggered by slumping Chinese stocks the previous session, as a globally accommodative monetary stance helped eased concerns and revived risk appetite.
Most Asian currencies trading stronger compared with the dollar.
(Reporting by Subhadip Sircar)
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