Rupee gains, but still trading below 60.50
MUMBAI (Reuters) - The rupee gained on Thursday, backing off from a record low hit in the previous session, as the country's current account deficit narrowed in the January-March quarter, easing some concerns about the funding of the deficit.
The rupee rose to 60.60 to the dollar at 12 noon, recovering from a record low of 60.76 hit on Wednesday. The currency closed at 60.7150/7250 in the previous session.
The current account deficit narrowed to $18.1 billion in January-March versus a $21.7 billion deficit in the same quarter year ago.
(Reporting by Subhadip Sircar)