Rupee trims initial gains, still up 13 paise

The rupee trimmed some initial gains but was still trading up 13 paise at 59.98 against the US currency in the late morning deals on bouts of dollar selling by banks and exporters.
The rupee resumed higher at 59.82 per dollar as against the last closing level of 60.11 at the Interbank Foreign Exchange market.
It was quoting at 59.98 per dollar at 1015 hours.
The domestic unit hovered in a range of 60.03-59.82 per dollar during the late morning trade.
In New York market, the dollar fell against euro late yesterday, as European Central Bank President Mario Draghi said that central bank officials had discussed quantitative easing as an option to fight falling inflation.

Meanwhile, the benchmark 30-share index Sensex was trading higher by 97.37 points, or 0.44 per cent, to 22,440,82 at 1030 hours.