Rupee edges up at open but month-end dollar demand weighs

The rupee opens above the 62 mark, but soon falls from session highs to trade at 62.11/12 versus its previous close of 62.16/17 as month-end dollar demand from oil importers continues to weighs.

Stronger Asian currencies and a fall in the non-deliverable forwards market is likely to keep a downward pressure on the USD/INR pair.

The domestic share market also trading up 0.5% and likely to limit sharp gains in the pair.

Asian currencies trading slightly stronger against the dollar.