Rupee trims initial losses, trade almost flat vs USD

Bouts of dollar demand from importers put pressure on the rupee

The rupee trimmed its initial losses, though trading almost flat by a paise down against the American currency at 67.39 in late morning deals on bouts of dollar demand from importers amid lower equities.

The Indian unit resumed higher by 67.35 against yesterday's closing level of 67.38 at the Interbank Foreign Exchange (Forex) market.

Later, it hovered between a high of 67.32 and low of 67.43 before quoting at 67.39 at 1030 hrs.

Meanwhile, the dollar index was up 0.08 per cent at 96.73 against a basket of six currencies in the early trade.

Overseas, the dollar was stable against its major rivals in early Asian trade, as markets waited for fresh guidance from the Federal Reserve.