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Rupee opens weak at 61.85 to the dollar

 Rupee opens weak at 61.85 to the dollar
The rupee opened the day weak in trade at 61.85 to the dollar, down 14 paise over Thursday's close. Sentiments across the globe were weak, particularly stocks markets, which pushed the rupee marginally lower against the dollar.

The rupee is expected to trade in a range, given the absence of any major cues. However, the immediate trigger would be the US Government shutdown and the debt ceiling in the US, which could add to volatility in the forex markets.

By the end of the month, the rupee would take cues from the US Federal Reserve meeting and also India's own monetary policy.

Some emerging market currencies have strengthened over the last few days against the US dollar, owing to partial closure of the US government. Check currency rates here

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