Rupee pares gains, at 59.66/dollar as importers rush in to buy dollars

It had rallied to more than one-week high on Bernanke's comments in early trade

The rupee is trading at 59.66/67, falling sharply from a more than one-week high of 59.32 hit in opening deals as importers rushed in to buy the dollar.

Traders say importer dollar demand especially from oil firms is being seen in the market though supplies are expected to come in around 59.70 levels.

Traders say importer demand may taper off in post lunch session and if supply is good with stocks remaining strong, the pair may again target 59 levels on the downside.

The BSE Sensex is trading up 2.2% on the back of bullishnes seen across equity and currency markets in Asia following dovish comments from the Federal Reserve Bank chairman Ben Bernanke on the monetary stimulus plan.