Rupee strengthens, trading above 58/dollar

MUMBAI (Reuters) - The rupee extended gains to above 58 to the dollar on Wednesday tracking higher Asian currencies and supported by comments from government officials that the country is considering taking steps to bolster the currency.

The RBI intervened in the foreign exchange markets on Tuesday to halt the rupee's slide, the deputy chairman of the country's Planning Commission Montek Singh Ahluwalia told TV channel CNBC-TV18 on Wednesday.

At 12:54 p.m., the partially convertible rupee was trading at 58.03/04 per dollar compared to 58.39/40 on Tuesday. The rupee gained to as much as 57.99 during the session.

(Reporting by Swati Bhat; Editing by Rafael Nam)

Published Date: Jun 13, 2013 04:45 AM | Updated Date: Jun 13, 2013 04:45 AM