Rupee scales past 62 levels on weak equity sentiments

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, October 9, 2013, 9:11 [IST]

The rupee scaled past the 62 level mark on weakish equity sentiments, as investors worried over the debt ceiling in the US. Read more about the debt ceiling here

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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