Mumbai, Oct 8 (PTI) The rupee trimmed its early losses to trade stable against the US currency at 61.43 per dollar on bouts of selling of the American unit from banks and exporters.
The rupee resumed lower at 61.46 per dollar as against yesterday’s closing level of 61.43 per dollar at the Interbank Foreign Exchange (Forex).
It slid further to 61.48 per dollar on demand from importers and was quoting stable at 61.43 per dollar at 1020 hours.
It moved in a range of 61.48 and 61.42 per dollar during the morning deals.
Crude oil prices fell further in early Asian trade today on demand concerns after the International Monetary Fund (IMF) cut its global economic growth forecasts.
In New York market, the US dollar fell to three-week low against its major rival in early trade as dealers opted for safe-haven Japanese yen.
Meanwhile, the benchmark BSE Sensex was trading lower by 37.47 points, or 0.14 per cent, to 26,234.50 at 1030 hours.
PTI PAK ARS