Rupee steady at 61.45 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, January 31, 2014, 11:06 [IST]

The rupee was trading steady against the dollar at 61.45, showing remarkable resilience in the last few days after the US Federal Reserve partially eased its Quantitative Easing Programme (QE3).

The rupee had closed the day at 61.32 on Thursday. Check currency rates here

It's likely that the currency would trade in a range in the next few days in the absence of any major cues. With both events including the RBI Monetary Policy and the US Federal Reserve Open Market commitee meet over, it's likely that the rupee will remain rangebound.

The week saw currencies across the globe, particularly those from emerging markets tumbling, following worries over QE3 easing. However, the Indian rupee remains one of the strongest emerging market currencies, thanks to a fall in the current account deficit to manageable levels.

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