Mumbai, India (BBN)-In line with the equity market, the rupee trimmed its initial gains, but was still quoting higher by 4 paise at 64.13 against the US dollar on uneven demand and supply transactions.
The rupee resumed weak at 64.20 per dollar against yesterday’s closing level of 64.17 at the Interbank Foreign Exchange (Forex) market, but immediately recovered to 64.05 on the back of firm equity market, reports The Hindu.
However, it failed to maintain its gains and was quoting at 64.15 per dollar due to sudden fall in the domestic equity market. It hovered in a range of 64.05 and 64.21 during the morning trade.
The benchmark BSE Sensex was trading nearly flat after opening higher by around 350 points due to profit-booking by funds and retail investors.
In New York, the dollar traded lower against most of its rivals yesterday after two sessions of marginal gains, as US Treasury yields turned lower and a Greek debt payment to the IMF supported the euro.