The rupee pared its initial gains, but was still trading higher by 6 paise at 66.10 against the US currency on bouts of dollar selling by banks and exporters.

The rupee resumed higher at 66.10 per dollar against the previous close of 66.16 at the Interbank Foreign Exchange (Forex) market.

It gained further to 66.01 on bouts of dollar selling before quoting at 66.10 at 3.35 pm local time. It hovered in a range of 66.14 to 66.01 per dollar during the evening deals.

In global markets, the US dollar was up against a basket of currencies in early lacklustre Asian trade amid relatively uneventful weekend with the dollar showing potential for gains if the upcoming data strengthen the case for a hike in interest rates this year.

The dollar index was 0.2 per cent up on Monday at 96.328, just shy of Friday’s high of 96.70, while the euro was down 0.2 per cent at $1.1174.

Meanwhile, the benchmark BSE Sensex ended lower by 247 points at 25,616.84.

Source:- thehindubusinessline.com