Indian rupee gains past 63/dollar; RBI chief comments, Fed taper fears ease

MUMBAI: The Indian rupee gained past 63/dollar on Thursday after comments from the central bank chief about dollar demand from oil companies being smoothly absorbed by the forex market and easing fears of near-term tapering by the US Federal Reserve helped the currency.

The rupee rose to 62.9525 to a dollar versus its Wednesday close of 63.30/31.

It was last trading at 63.01/02. Fed Chairman-elect Janet Yellen, in remarks prepared for her nomination hearing before the Senate Banking Committee later on Thursday, said the US jobless rate was still too high and both the labour market and economy were performing "far short" of potential.