LM:Rupee trades steady at near 60 to the dollar level
Mumbai: Backed by the steps taken by the Indian central bank and the capital market regulator, the rupee has partially pared losses logged early this week and has been trading largely steady on Wednesday.
The local unit is trading at near 60 to the dollar level, briefly strengthening in morning trade to 59.99.
At 3.16pm, the rupee was trading nearly flat at 60.13, up 0.03% from the previous close.
Since January this year, the rupee has weakened 8.50% and has lost the most among Asian currencies during that period.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 84.3430, down 0.28% from the previous close.
India’s benchmark Sensex was trading at 19,285.97, down 0.79% from the previous close.
