MUMBAI: The Indian rupee increased in the early morning on Friday. It has started higher 26 paisa at 61.44 per dollar against 61.70 Thursday.
The euro struggles at 11-year lows after suffering a massive decline as the European Central Bank launched a stimulus program that would pump hundreds of billions in new money into a sagging euro zone economy. Pramit Brahmbhatt of Veracity said, “Constant flow of FIIs, positive sentiment in the market and the ECB stimulus now will help local equities to trade at all-time highs. Taking cues from positive equities, the rupee is expected to appreciate. We expect the rupee to trade in a range of 61.20-62.20/dollar today.”
