Mumbai | The rupee cut down its initial losses to stabilize at 66.39 against the American currency in late-morning deals on bouts of dollar sale from banks and importers amid stronger equities.
The rupee resumed lower at 66.45 as against overnight closing level of 66.39 at the Inter-bank Foreign Exchange (forex) market.
It slid further before quoting at 66.39 at 1030 hours.
The domestic unit moved in a range of 66.45 and 66.39 during the morning deals.
Overseas, the US dollar was mostly flat against its major peers as the holiday season capped the damage after yesterday’s surge of the greenback against commodity currencies, including the Russian ruble.
Meanwhile, the benchmark BSE Sensex traded higher by 44.82 points, or 0.17 per cent, to trade at 26,004.85 in late morning trade.
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