Rupee opens strong at 59.66 to the dollar

The rupee opened the day strong at 59.66 to the dollar, a gain of 6 paise over Thursday's close. The currency has been strong in the last few days on the back of a surge in dollar inflows from foreign funds.

Also, with the Union Budget a few days away the currency has gained ground on hopes that there would be several reforms that are likely to be initiated in the Budget.

However, the currency is unlikely to gain ground significantly ahead of the Budget and may trade in a range. The rupee has been one of the best performing currencies across Asia, on hopes that a stable government would unleash reforms. The currency had fallen to a historic low of 68.86 against the dollar in August last year. Check currency rates here

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