Mumbai, India (BBN) – The Indian rupee pared initial losses and was trading a tad up at 65.35 due to dollar’s weakness against other currencies overseas.
The Indian rupee resumed lower by 3 paisa at 65.39 per dollar against Monday’s closing level of 65.36 at the Interbank Foreign Exchange (Forex) market today, reports The Hindu Business Line quoting PTI.
The domestic unit fell further to 65.45 before quoting at 65.35 per dollar at 11.30am local time.
The domestic currency hovered in a range of 65.45 and 65.33 per dollar during morning deals.
Meanwhile, the dollar index was trading lower by 0.10 per cent at 100.26 against a basket of six currencies in late morning trade.
Overseas, the dollar was on the defensive in Asian trading early today, after Chicago Federal Reserve President Charles Evans reinforced the perception that the US central bank won’t accelerate the pace of its interest rate hikes.
Meanwhile, the benchmark Sensex was trading lower by 58.06 points or 0.2 per cent at 29,460.68.