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Rupee pares gains; trade data eyed
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Currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.
Credit: Reuters/Vivek Prakash/Files
Reuters Market Eye - The rupee was little changed at 53.8550/8650 versus its previous close of 53.85/86 as negative sentiment due to losses versus most other Asian currencies gets offset by demand from oil firms.
The pair opened weaker at 53.75 but soon recovered most of its losses to trade flat.
Gains in the domestic share market may, however, limit a sharp upside to the pair. The Sensex was trading up 0.4 percent.
Most Asian currencies also trading stronger compared with the dollar.
Traders will watch the trade data due to be released around 11:15 a.m. for immediate direction.
(Reporting by Swati Bhat)
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