Rupee at day's high, trades at 69.53 per dollar

The Indian rupee erased most of the losses and trading at day's high level at  69.53 per dollar.

Rupee consolidated in a narrow range for the whole week following lack of domestic and global cues and despite strength in the dollar against its major crosses. On the domestic front, trade numbers released last week were slightly disappointing following rise in crude imports. Inflation number also failed to have any major impact on the currency, said Motilal Oswal.

RBI data showed India’s FX reserves continue to swell and the central bank added another USD 1.1 billion to touch USD 414.88 billion for the week ended April 12th.