Rupee trades at 61.53 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, October 25, 2013, 9:06 [IST]

The rupee opened marginally lower against the dollar and was last seen trading at 61.53 to the dollar, a drop of 7 paise over Thursday's close.

The rupee has been trading in a range for the last few trading sessions and dealers say the currency is likely to trade in a tight range in the absence of any major cues.

The Federal Open Market Committee meet is likely to continue to keep tapering on hold, thus not providing much direction for the rupee.
The currency is expected to take cues from the Monetary Policy, unless some decisions like a repo rate cut are put on hold.

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