Rupee fails to maintain gains, trading at 45.59/60 against dollar

The Indian rupee failed to maintain initial gains and was trading flat at Rs 45.59/60 against the US dollar in early trade on the Interbank Foreign Exchange on Monday amid mild dollar demand from banks and corporates.

The domestic unit opened lower at 45.61/62 per dollar against last weekend's close of 45.59/60 per dollar, but firmed up immediately to 45.53 per dollar.

However, it failed to maintain the initial gains and was ruling steady at Rs 45.59/60 per dollar after moving in a tight range between Rs 45.53 and Rs 45.62 per dollar in morning deals.

The dollar extended its gains in the New York market last Friday following a mixed US jobs report that showed a decline in unemployment picture, but disappointing growth in payrolls.