Rupee extends gains as corporates, custodians sell dollars

Traders expect it to be in a 60.60 to 61.00 range

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%.