Rupee weakens in afternoon trades

At 12:30 pm the rupee was trading at Rs 61.47 vs Rs 61.27 per dollar

The rupee weakened in afternoon trades due to dollar demand by importers.

 

At 12:30 pm the rupee was trading at Rs 61.47 compared with previous close of Rs 61.27 per dollar.

 

However, currency dealers are optimistic that the central bank will not allow the rupee to depreciate sharply. Besides that dollar flows from foreign investors will support the rupee.