The upward movement also saw the rupee regain its four month high level after it trimmed the gains in late trade on Monday. Bankers and exporters preferred to reduce their dollar position as the strengthening of other currencies against the American currency overseas also supported the rupee, forex dealers said.

The rupee had gained 28 paise to close at 61.13 on Monday, boosted by stocks that climbed to a record high after Bharatiya Janata Party won three out of four state assembly elections.

Meanwhile, the BSE benchmark index Sensex fell 49.33 points, or 0.23 percent, to 21,277.09 in morning trade Tuesday.


Latest News  from Business News Desk