MUMBAI: The Indian rupee gained in the early trade on Thursday. It has opened higher by 9 paise at 63.73 per dollar versus 63.82 Wednesday. Dollar hit a three-week high against the euro, extending a rebound rally supported by European Central Bank plans to front-load its bond buying program in a move to keep interest rates low. The dollar index holds above the 95 mark. Mohan Shenoi of Kotak Mahindra Bank said, “April FOMC minutes were dovish casting doubts about Fed rate hike in June. Mixed data emanating from US is keeping dollar in a range against major currencies.” “Rupee is also trading in a range along with global currency markets and corresponding RBI actions. The rupee is expected to trade in a range of 63.60-64/dollar today,” he added.
