The rupee was trading steady at 61.97 to the dollar in early trade. The currency was up three paise over Tuesday's close.
Dealers say that the current has exhibited more stability and is now less volatile to news emanating with regards to the US Fed tapering its QE3 programme.
The rupee it maybe recalled had fallen substantially last year and in September the currency hit a historic low of 68.81 against the dollar.
However, the government has initiated a number of steps which has managed to reduce the current account deficit and ensure that the currency remains more stable.
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