Rupee trades weak in early trade; drops 29 paise

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Rupee trades weak in early trade; drops 29 paise
The rupee was weak in early trade, dropping 29 paise to the dollar. Weak global sentiments, particularly across equity markets around the globe, reflected on the rupee movement against the dollar. Check rupee rates here

Dealers say that the rupee has been showing signs of weakness against the dollar, since the start of the year.

Dollar inflows through foreign funds have also not been encouraging with FIIs net selling in Indian equities on Friday.

It was largely anticipated that there would be robust buying in equities in the Indian markets from foreign funds, though there have been no signs of the same so far.

All eyes are now on the minutes of the Fed Meeting which would provide future hints on QE3 easing in the US. For more on QE3 click here

Read more about: dollar, fiis, qe3
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