Rupee rules steady at 44.67/68 vs dollar

Mumbai: The Indian rupee ruled steady at Rs 44.67/68 per US dollar in morning trade on the Interbank Foreign Exchange here Wednesday after recouping initial losses.

The rupee resumed lower at Rs 44.72/73 per dollar as against the overnight closing level of Rs 44.67/68 per dollar on good demand for dollars from banks and corporates on the back of dollar firmness in overseas market.

However, it recovered afterward on mild selling of dollars by banks and exporters.

The rupee moved in a range between Rs 44.65 and Rs 44.75 per dollar before quoting at Rs 44.67/68 at 1030 hours.

In the Tokyo market, the dollar index recouped some ground against the euro and the British pound in early trade, but the greenback weakened against the Japanese yen.

Meanwhile, Asian stocks resumed lower after Federal Reserve chairman Ben Bernanke said the US economic recovery was proving to be "uneven" and "frustratingly slow".