Rupee rules steady at 44.72/73 vs USD after initial gains

Rupee notes held in a tight grip. Indian rupee held steady against the US dollar in late morning trade. Photo : Bijoy Ghosh

The Indian rupee held steady at 44.72/73 against the US dollar in late morning trade after its initial gains were eroded at the Interbank Foreign Exchange here today.

The rupee resumed higher at 44.68/70 per dollar against yesterday’s closing level of 44.72/73 on selling of dollars by banks and exporters in view of weakness of the American currency in overseas markets.

The rupee hovered in a range between 44.67 and 44.73 per dollar during the morning trade.

It was quoted at 44.72/73 per dollar at 1030 hours.

In the Tokyo market, the dollar edged down against the yen and euro in early trade, giving back some of the gains made against its European counterparts in the wake of the European Central Bank’s latest interest rate signal.