Rupee erases initial gains, still up by 9 paise

The rupee trimmed its initial gains against the US dollar but was still quoted higher by 9 paise to 62.19 on selling of the American currency by banks and exporters in view of weakness of the greenback overseas.
The rupee resumed higher at 62.15 per dollar as against the last weekend's level of 62.28 at the Interbank Foreign Exchange market and firmed up further to 62.10.
However, it trimmed its initial gains and was quoted at at 62.19 per dollar at 1045 hours after touching 62.22.
In New York market, the dollar rose against the yen last Friday but fell against the euro, as investors grappled with data showing the US economy added fewer jobs than expected in January and its implications for the Federal Reserve's removal of monetary stimulus.

Meanwhile, the benchmark Sensex eased by 11.24 points, or 0.06 per cent, to 20,365.32 at 1045 hours.