 "Rupee weak in early trade; FOMC eyed")
The rupee weakened in early trade today due to dollar buying by importers. Sentiment was cautious ahead of the Federal Reserve's meeting this week.
At 9:35am, the rupee was trading at Rs 61.50 compared with previous close of Rs 61.32 per dollar.
Currency dealers see the rupee trading in the range of Rs 61.30 to 62.50 for the rest of the day.
Dealers will watch the Reserve Bank of India Governor Raghuram Rajan's teleconference with analysts at 1430 IST keenly for cues, which comes a day after the central bank raised rates for the second time in as many months.
At 9:35am, the rupee was trading at Rs 61.50 compared with previous close of Rs 61.32 per dollar.
Currency dealers see the rupee trading in the range of Rs 61.30 to 62.50 for the rest of the day.
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The dollar touched a one-week high against a basket of major currencies on Wednesday as investors further trimmed bearish positions ahead of the outcome of the Federal Reserve policy meeting.
Dealers will watch the Reserve Bank of India Governor Raghuram Rajan's teleconference with analysts at 1430 IST keenly for cues, which comes a day after the central bank raised rates for the second time in as many months.