Rupee trims losses vs dollar, still down by 8 paise

Rupee trims losses vs dollar, still down by 8 paise Mumbai: The Indian rupee trimmed its losses against the American currency in the late morning trade but was still quoted lower by 8 paise to 54.26 per dollar on good dollar demand from banks and importers on the back of higher dollar in overseas.

The rupee resumed lower at 54.23 per dollar as against the last closing level of 54.18 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 54.36 per dollar on persistent dollar buying from importers.

However, it trimmed its losses and was quoted at 54.26 per dollar at 1040 hrs on some selling of dollar by exporters in view of sustained foreign capital inflows into equity.

Meanwhile, the Indian benchmark Sensex rose by 106.41 pts or 0.54 percent 19,780.05.

In New York market, the US dollar rose against Japan's currency yesterday adding to a hefty gain made after a stronger-than-expected monthly US jobs report.

PTI