Rupee opens at 39.62/63 per USD

Mumbai, Feb 13: The Rupee today opened firm by atleast four paise against US Dollar at 39.62/63 as compared to previous close of 39.66/67 per dollar on positive note in Indian equity market.

Making a firm start against greenback in the early trade, the local unit was trading in a narrow rangeboud gap between 39.62 and 39.67 per dollar on suspected intervention by the Reserve Bank of India, dealers said. Rupee had touched a three week low in the past few days as the benchmark indices of Indian equity market hit its five month low, yesterday, dealers added.

Further dealers expect that the Indian currency will track the movements in the equity market and will remain near the range of 39.60/65 per dollar as its upward movement will be ristricted by the reported intervention of the apex bank.

UNI