Rupee trades at 61.60 to the dollar

The rupee gained 15 paise in early trade at 61.60 to the dollar on the back of strength in equities. Dealers say that the US non farm payrolls data would be important for determining the direction of the rupee in the next week, as today it is largely expected to remain steady.

A strong reading of the US non farm payrolls data would signify that the US Fed Reserve could consider tapering as early as this month, which should put some pressure on the rupee.

Meanwhile, Indian markets opened the day steady with strong gains being recorded in select auto stocks. Check currency rates here

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