The rupee was last trading at 62.13 to the dollar. The rupee has been steady in the last few trading sessions and the RBI has now reduced liquidity measures unveiled in July to stem the slide of the rupee.

On Monday it reduced the marginal standing facility for banks to 9 per cent.

Dealers say that the rupee is likely to drop, unless there is a resolution to the US debt ceiling crisis. Equity sentiments were also weak with the Sensex and the Nifty expected to open soft in trade. Check currency rates here

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