Indian rupee tad stronger in afternoon trade

The Indian rupee was trading slightly stronger in afternoon trade on the back of some gains in domestic shares while some losses in the dollar against major currencies also helped sentiment.

The Indian rupee was trading slightly stronger in afternoon trade on the back of some gains in domestic shares while some losses in the dollar against major currencies also helped sentiment.

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At 2:06 p.m., the partially convertible rupee was at 46.60/61 per dollar, stronger than 46.69/70 at close yetsreday. The unit has traded in a band of 46.60 to 46.75 so far in the day, after having opened at 46.75.

Dealers said the U.S. labour department's non-farm payroll data for May due to be released at 1230 GMT will provide cues to global currencies, and until then, markets would be rangebound.