Indian rupee trims early losses, trades at 60.22 per US dollar

Apr 11 2014, 11:09 IST
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The Indian rupee fell by 27 paise to 60.34 against the US dollar in early trade today at the Interbank Foreign Exchange market on demand for the American currency from importers amidst its higher value overseas. (AP) The Indian rupee fell by 27 paise to 60.34 against the US dollar in early trade today at the Interbank Foreign Exchange market on demand for the American currency from importers amidst its higher value overseas. (AP)
SummaryThe Indian rupee gained on some dollar selling by banks and quoted 60.22 per dollar at 1015 hours.

The Indian rupee trimmed initial losses, but was still down by 15 paise against the dollar in late morning deals today amid persistent demand for the US currency from banks and importers.

The Indian rupee resumed lower at 60.34 per dollar as against the last closing level of 60.07 at the Interbank Foreign Exchange market.

It gained on some dollar selling by banks and quoted 60.22 per dollar at 1015 hours.

It hovered in a range of 60.22-60.35 per dollar during the late morning deals.

In New York market, the dollar fell against the Japanese Yen late yesterday as improving US labour market data were outweighed by the Federal Reserve's March minutes that suggested the market has taken a too optimistic view of future interest-rate hikes.

Meanwhile, the BSE Sensex was trading lower at 22,581.64 at 1020 hours, showing a fall of 133.69 points, or 0.59 per cent, from its last close.

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