Rupee gains 10 paise at 60.84 to the dollar

The rupee gained 10 paise at 60.84 to the dollar as against its previous close of 60.94. The rupee had dipped sharply on Wednesday on worries of an interest rate hike.

However, there was some recovery today on the back of recovery in global cues. Stocks were also expected to open strong on firm global cues.

Dealers say the rupee is likely to trade in the 60-61 range for a few weeks in the absence of any major cues. The forex markets would continue to be worried by interest rate hikes in the US.

The Indian rupee has recovered sharply against the dollar in the last one year from record lows of 68.86 seen in August 2013. check currency rates here

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