NEW DELHI (Alliance News) - The Indian rupee retraced early gains against the US dollar in later deals on Friday.
The rupee got a lift from gain in regional stocks, as well as a lower-than-expected trade deficit in the morning session.
Data from the Ministry of Commerce and Industry said that India's trade deficit was USUSD10.14 billion in December, which was lower than the USUSD17.59 billion shortfall seen a year earlier.
The value of exports increased 3.49% on an annual basis to USUSD26.35 billion in December, while imports fell 15.25% to USUSD36.49 billion.
The rupee retreated to 61.95 against the greenback from an early 8-day high of 61.7550. The pair was worth 62.105 at yesterday's close.
The industrial production data for November is due shortly.
