Rupee trades marginally weak against the dollar

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Rupee trades marginally weak against the dollar
The rupee was trading marginally weak against the dollar in early trade. The drop in the rupee was despite strong global cues.

The currency was last trading at 61.94, down 21 paise over Monday's close.

The rupee is likely to take cues from the Federal Reserve's Open Market Committee meet, which should take a decision on the Fed's tapering programme.

Should the Fed decide to taper its QE3 programme it could result in some pressure on the rupee. The Fed's Open Market Committee would meet on Dec 17 and Dec 18 to decide on its future course of action with regards to tapering. To read more about QE3 tapering click here.

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Read more about: dollar, currency, federal reserve
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