The rupee was trading strong crossing the 62 levels to trade at 61.92 to the dollar in early trade.
The rupee has been showing signs of strengthening in the last few trading sessions. The rise is despite not very encouraging dollar inflows from foreign funds who have been sellers in the Indian stock markets for the last few trading sessions in 2014.
Dealers say that it is likely that the rupee may continue to trade in a range in the absence of any cues.
Lats year the rupee fell dramatically to a historic low of 68.81 against the dollar, as the current account deficit worsened. However, this year it has recovered as the current account deficit has reduced. Check currency rates here
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