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Jul 12, 2012, 08.23 AM IST

Rupee pares gains tailing weak euro

MARKETS-INDIA-RUPEE:Rupee pares gains tailing weak euro

Source: Reuters
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Rupee pares gains tailing weak euro
MUMBAI (Reuters) - The rupee quickly lost its initial gains to snap a four-day rise in early trade on Wednesday, tracking a weak euro as investors positioned for a European Central Bank policy meeting on Thursday.


Traders will watch the debt limit auction to overseas investors for cues.


At 9.09 a.m, the rupee was at 54.53/54 to a dollar, as against Tuesday's close of 54.36/37. It opened at 54.35 to the dollar.


(Reporting by Archana Narayanan; Editing by Anupama Dwivedi)


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