Rupee scales past 63 to the dollar in early trade

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The rupee weakened past the 63 mark in early trade against the dollar after having opened at 62.66 to the dollar. The currency was weak even on Thursday after reports from the Fed Minutes spooked currency and equity markets.

The Indian currency would continue to take directions from Fed taper talks, though many believe that the currency is now better equipped if the Fed decides on QE3 tapering.

On Thursday the minutes of the Fed meeting hinted at earlier then expected withdrawal of the Fed stimulus which saw the Nifty lose close to 2 per cent.

This had an impact on the currency market with the Indian rupee losing ground. Check currency rates here

Read more about: dollar, currency, fed, qe3 tapering
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