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Rupee drops lower at 61.76 to the dollar

Rupee drops lower at 61.76 to the dollar
The rupee opened the day lower against the dollar at 61.76, a drop of 24 paise over Monday's close.

The rupee has been showing slight signs of weakness in the last couple of days and dealers say this could be on account of huge selling by foreign funds in the debt market.

The rupee has been trading in a range and would most likely take cues from next week's Monetary Policy Review.

RBI Officials are likely to meet on Oct 29, and in all probability there could be a further repo rate hike. Check currency rates here

Read more about: dollar monetary policy review
Story first published: Tuesday, October 22, 2013, 9:08 [IST]
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