Rupee gains; though probable US govt shutdown weighs high

The rupee gained today, with the currency finding some support from a lower-than-expected June quarter current account gap, though a looming US government shutdown continued to weigh.

The Indian rupee gained on Tuesday, with the currency finding some support from a lower-than-expected June quarter current account gap, though a looming US government shutdown continued to weigh.

The rupee rose to 62.47/49 to the dollar versus its Monday's close at 62.60/61.

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India's current account deficit grew less than expected in the June quarter and is tipped to ease in coming months as a pick-up in exports and lower gold imports improve the trade balance, offering relief to the battered rupee.