The rupee wiped off its early losses due to fresh dollar selling by banks and exporters. At 3.53 p.m. local time, the domestic unit was trading strong by 8 paise at 61.86 against the dollar.
After opening a tad weak at 61.95 against the previous close of 61.94, the rupee hovered in the range of 61.86 and 62.04 in the afternoon trade.
Rupee trying to cross below 62. It is among the strongest against the USD so far in 2014.
— lokeshwarri sk (@lokeshwarri)
>November 25, 2014Investors will further watch out for key economic data due this week. The Government will issue gross domestic product (GDP) data for the September quarter and fiscal deficit data for October on November 28.
Meanwhile, the BSE benchmark Sensex ended down by 161.49 points or 0.57 per cent at 28,338.05.