Indian rupee pares early losses, trade flat at 64.41 vs USD

The rupee pared initial losses to trade flat at Rs 64.41 per dollar in late morning deals on bouts of dollar demand from importers and banks amid higher local equities.

The rupee opened 10 paise down at 64.51 against previous closing level of 64.41 per dollar at the interbank forex market.

Later, it regained lost ground to hit a high of 64.39 before trading flat at 64.41 at 1130 hrs.

“Gains in domestic equities are supporting the rupee sentiment,” a dealer said.

Globally, the US dollar was mixed against its major rivals in early Asian trade. The US currency gained against the Japanese yen supported by strong US economic data while North Korea’s latest missile launch had little immediate impact on currency markets though investors are focused on how the US responds to the test.