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Rupee extends gains as corporates, custodians sell dollars

Traders expect it to be in a 60.60 to 61.00 range

<a href = "http://www.shutterstock.com/pic-107807486/stock-photo-image-showing-folded-indian-notes-of-rs.html?src=p5N32CFr8-mqwY5wKad6IA-1-21" target="_blank"> Rupees image </a> via Shutterstock.com

Reuters Mumbai
The rupee is trading at 60.74/75 versus Monday's close of 60.93/94 on the back of custodian and corporate dollar sales.
 
Traders expect the pair to face good support at 60.60 levels, keeping it in a 60.60 to 61.00 range for the rest of the session.
 
RBI kept key policy rate unchanged but warned about inflationary risks should a shortfall in monsoon rains spark a surge in food prices.
 
Most other Asian currencies are also trading stronger compared to the dollar.
 
The BSE Sensex is trading up 0.5%.

 

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First Published: Aug 05 2014 | 2:46 PM IST

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