Rupee trades stronger; drops below 60 levels

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, July 10, 2013, 9:07 [IST]

The rupee was trading with gains of around 15 paise at 59.98 to the dollar in early trade. Strength in equity markets helped improve sentiments for the rupee.

Dealers say the rupee is likely to remain rangebound and may even appreciate following dollar inflows for a stake by Unilever Brothers in Hindustan Unilever.

The rupee has been on a recovery path after hitting a lifetime low of 61.21 against the dollar. A series of measures by the RBI, SEBI and others have aided a smart recovery in the rupee.

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