Indian rupee trims initial gains against US dollar, still up by 8 paise

Written by PTI | Mumbai | Updated: Feb 5 2014, 17:16pm hrs
The Indian rupee trimmed its initial gains against the American currency, but was still quoted higher by 8 paise to 62.41 per dollar on selling of the US unit by banks amidst firm dollar overseas.

The Indian rupee resumed higher at 62.42 as against the last closing level of 62.53 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 62.36-62.47 per dollar before quoting at 62.41 at 1045hrs.

In New York, the US dollar rebounded against the yen yesterday while the Australian dollar jumped after Australia's central bank indicated its no longer leaning toward cutting interest rates.

Meanwhile, the BSE Sensex was quoted lower by 69.29 points of 0.34 per cent to 20,142.64 at 1045hrs.