Rupee trades higher by 17 paise at 61.05 to the dollar

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The Indian rupee was trading higher today on the back of dollar inflows from exporters and foreign funds.

The currency was trading with gains of 17 paise at 61.05 to the dollar. The last few days has seen some recovery in the rupee after the currency dropped to a 5 month low last week. Easing geo-political tensions around the globe have also helped the rupee.

Dealers say the currency is likely to trade in a range given the lack of cues on the domestic front. Mounting tensions in Iraq and in Russia-Ukraine may no augur well for the currency.

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