<p>The rupee trimmed its initial losses against the US currency but was still down by 3 paise at 61.91 per dollar on demand for the American unit from banks and importers.<br /><br /></p>.<p> The rupee resumed steady at 61.88 per dollar, but dropped immediately to 62.00 on good demand for the American currency from banks.<br /><br /> However, it recovered afterwards to trade at 61.91 per dollar at 1045 hrs in view of a recovery in the equity market.<br /><br /> The local unit moved in a range of 61.88-62.00 per dollar during morning deals.<br /> In the New York market, the American currency rose against the Canadian dollar yesterday as a lack of major economic data turned the focus to a potential further reduction in monetary stimulus at the next Federal Reserve meeting.<br /><br /> Investors are also looking ahead to a monetary-policy decision from the Bank of Canada due today.<br /><br /> Meanwhile, the benchmark BSE Sensex rose by 47.03 points, or 0.22 per cent, to 21,298.15 at 1045 hrs.</p>
<p>The rupee trimmed its initial losses against the US currency but was still down by 3 paise at 61.91 per dollar on demand for the American unit from banks and importers.<br /><br /></p>.<p> The rupee resumed steady at 61.88 per dollar, but dropped immediately to 62.00 on good demand for the American currency from banks.<br /><br /> However, it recovered afterwards to trade at 61.91 per dollar at 1045 hrs in view of a recovery in the equity market.<br /><br /> The local unit moved in a range of 61.88-62.00 per dollar during morning deals.<br /> In the New York market, the American currency rose against the Canadian dollar yesterday as a lack of major economic data turned the focus to a potential further reduction in monetary stimulus at the next Federal Reserve meeting.<br /><br /> Investors are also looking ahead to a monetary-policy decision from the Bank of Canada due today.<br /><br /> Meanwhile, the benchmark BSE Sensex rose by 47.03 points, or 0.22 per cent, to 21,298.15 at 1045 hrs.</p>