Rupee trades lower at 62.80 to the dollar

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Rupee trades lower at 62.80 to the dollar
The rupee was trading marginally lower against the dollar at 62.80, as against Monday's close of 62.60. Weak global, particularly weak stock markets around the globe, pushed the rupee lower.

Dealers say that the rupee would continue to trade in a tight range, given the fact that we now have two major events including the Fed meeting and the Monetary policy meet behind us.

Most of the global currencies, including the emerging market currencies were trading steady against the dollar. The rupee is likely to now take cues from global developments.

Read more about: dollar, currency
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