Markets

Indian rupee gains; lower than estimated June-qtr current acct gap helps

Published October 1, 2013 Updated October 1, 2013 05:40am

1 min

By Shoaib Ur Rehman

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MUMBAI: The Indian rupee gained on Tuesday, with the currency finding some support from a lower-than-expected June quarter current account gap, though a looming US government shutdown continued to weigh.

The rupee rose to 62.47/49 to the dollar versus its Monday's close at 62.60/61.

India's current account deficit grew less than expected in the June quarter and is tipped to ease in coming months as a pick-up in exports and lower gold imports improve the trade balance, offering relief to the battered rupee.

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