Rupee hovers around 66/dollar; Sensex flat after 2-day rally

September 06, 2013 09:39

The Indian rupee traded flat on Friday, a day after it saw the biggest gain in a week. The partially convertible rupee traded at 65.95 per dollar as against Thursday's close of 66.01 as of 09.20 a.m.

Traders said there might be some consolidation as the rupee has gained sharply since Reserve Bank governor Raghuram Rajan unveiled a spate of measures late Wednesday to attract more inflows.

The new steps to defend the rupee included a concessional forex swap rate to banks for attracting deposits from overseas Indians.

Stock markets opened higher, but flattened within minutes of early trade. The BSE Sensex traded below the 19,000 mark and the Nifty traded below the key 5,600 mark erasing earlier gains.

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