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The Indian rupee gained on Thursday, backing off from a record low hit in the previous session, as the country's current account deficit (CAD) narrowed in the January-March quarter, easing some concerns about the funding of the deficit.
The rupee rose to 60.36/38 to the dollar, 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.
CAD for full the year in FY 13 stood at 4.8%.
