Rupee trades weak; drops 28 paise on poor sentiments

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    Rupee trades weak; drops 28 paise on poor sentiments
    INR
    71.335 US Dollar
    Weak equity sentiments weighed heavily on the Indian rupee dragging it lower by 28 paise, after dropping 60 paise in intra-day trade. The rupee was trading at 54.49 to the dollar at 10.55 am IST.
     

    Demand for dollar, particularly from corporates weighed on the rupee.

    A risk aversion particularly due to the fiscal cliff in the US and weak equity markets across the globe, did little to support the rupee.

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