Rupee steady at 46.69/70 vs dollar in morning trade

STAFF WRITER 10:42 HRS IST

Mumbai, Dec 16 (PTI) Indian rupee was almost steady against the US currency in late morning trade today on stray dollar sales by exporters as the American unit held at its recent highs amid weak local stocks.

The domestic currency resumed lower at 46.75/77 a dollar against its last close but later recovered and was quoted at 46.69/70 a dollar in late morning deals.

Dealers at the Interbank Foreign Exchange (forex) market said exporters were seen selling dollar in early trade as the dollar held at its 2-1/2-month high against a basket of major currencies in overseas markets.

Local stocks remained weak, extending their losses to fourth straight day today.

Indian benchmark Sensex was down 77 points at 1030 hours while Asian indices were mixed this morning.