Rupee off lows as exporters step in to sell

The rupee traded at 54.63/64 little changed from its previous close of 54.60/61 as exporters stepped in to sell dollars after the pair hits new one-and-half months high earlier in the session.

The rupee had fallen to 54.7850, its lowest since September 14 on the back of sharp losses in the euro.

Traders now expect rangebound trading until the results of the U.S. presidential elections are announced.

The pair is expected to hold between 54.50-54.80 during this session with movements in domestic shares also being watched for direction.

The Sensex is trading up 0.1 percent.

Copyright Thomson Reuters 2012