The rupee is likely to gain against the US dollar today because the dollar index remains under pressure due to the political uncertainty in the US and on caution head of the outcome of the Federal Open Market Committee's meeting, due Wednesday. However, the Reserve Bank of India may not allow the rupee to rise beyond 64.25 a dollar. The central bank has been purchasing the greenback persistently at various levels throughout the month in order to limit the rise in the rupee.
Source: Newswire
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