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Rupee edges up to 61.82 Vs dollar in late morning trade


Mumbai: The rupee edged up by one paisa to 61.82 against the American unit in late morning trade on mild selling of dollars by banks and exporters.

The Indian currency resumed lower at 61.90 per dollar as against the last closing level of 61.83 at the Interbank Foreign Exchange market. It recovered to 61.80 per dollar before quoting at 61.82 per dollar at 1100hrs.

It hovered in a range of 61.92 and 61.80 per dollar during the morning deals.

The rupee had slid 8 paise to end at 61.83 last Friday due to month-end dollar demand from importers and some banks.

In New York, the US Dollar index posted a monthly gain last Friday, after spending much of February in consolidation, as investors await further signals on the timing of any interest-rate increase move by Federal Reserve.

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