Mumbai | The rupee trimmed its initial gains, but was still trading up by 5 paise to 66.38 against the American currency in late morning deals on bouts of dollar selling from banks and exporters amid rally in equities.
The domestic currency resumed higher at 66.35 as against yesterday’s level of 66.43 per dollar at the Interbank Foreign Exchange (Forex) market here. It gained further to 66.33 before quoting 66.38 at 1030 hrs. The domestic unit hovered in a range of 66.33 to 66.42 per dollar during the morning deals.
The dollar index was up 0.16 per cent at 94.22 as against a basket of six global currencies in Asian trade after leading producers agreed on output cap.
Meanwhile, the benchmark BSE Sensex was trading up 425.55 points or 1.69 per cent at 25,571.14 at 1050 hrs.
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