Rupee stronger on broad dollar losses

Mumbai: The rupee is trading at 60.04/05 versus its previous close of 60.11/12 on broad losses in the dollar versus other major and regional units, but a sharp fall will be averted on caution ahead of the national elections outcome next week.

The rupee is seen holding in a 59.90 to 60.30 range initially during the session with traders monitoring domestic share moves for cues on foreign fund flows.The New Zealand dollar tumbled on Wednesday after the country's central bank warned it may have to intervene to weaken the currency, while the US dollar languished at six-month lows against a basket of major currencies.