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Rupee trims some initial gains; up 17 paise to 59.91 Vs dollar

The rupee had gained 10 paise to close at 60.11 against the dollar in yesterday's trade.

Mumbai: Erasing some of the early gains, the rupee was trading higher by 17 paise at 59.91 against the US currency in morning trade on Wednesday on bouts of dollar selling by banks and exporters.

The rupee resumed higher at 59.90 per dollar as against the last closing level of 60.08 at the Interbank Foreign Exchange market.

It was quoting quoting at 59.91 per dollar at 1015 hours.

The domestic unit hovered in a range of 59.99-59.78 per dollar during the morning trade.

In New York market, the dollar fell against yen last Friday after the employment report showed the US added fewer jobs in March than had been expected, prompting some traders to delay expectations for when the Federal Reserve could hike rates.

Meanwhile, the Indian benchmark 30-share index Sensex trading almost flat, up by 7.22 points, or 0.03 percent, to 22,366,72 at 1030 hours.

From Zee News

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