Mumbai: The rupee on Thursday opened 1.69 paise up at 61.69 against the dollar, as against its previous close at 63.38 vs US dollar on Wednesday. The rupee is at its highest level since August 16.
The rupee on Wednesday closed just a paisa lower at 63.38 against the dollar, the narrowest movement in four months, as the currency market remained directionless ahead of the outcome of the US Federal Reserve policy meeting.
New RBI Governor Raghuram Rajan will review the monetary policy on September 20 amid expectations the rupee's recovery from an all-time low of 68.85 on August 28 would help to unwind some liquidity-tightening measures introduced by the central bank to curb exchange rate volatility. Meanwhile, the government is seeking to revive economic growth and curb the fiscal and current account deficits.
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