Indian rupee trims some initial gains; up 17 paise

Written by PTI | Mumbai | Updated: Apr 7 2014, 16:32pm hrs
Indian rupeeThe Indian rupee appreciated by 29 paise to trade at 59.79 against the US dollar in early trade today on selling of the American currency by banks. (AP)
Erasing some of the early gains, the Indian rupee was trading higher by 17 paise at 59.91 against the US currency in morning trade today on bouts of dollar selling by banks and exporters.

The Indian 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 BSE Sensex trading almost flat, up by 7.22 points, or 0.03 per cent, to 22,366,72 at 1030 hours.