Rupee trades at 62.45 to the dollar; drops 8 paise

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 Rupee trades at 62.45 to the dollar; drops 8 paise
The rupee was trading marginally lower after a sell-off in equities across the European and US markets, following worries over QE3 tapering.

The currency was trading at 62.45 to the dollar, a drop of 8 paise over Tuesday's close.

The rupee is expected to trade in a range and may exhibit some volatility next week following election results and the US non farm payroll data.

Any positive surprise on the latter would renew fears of a possible earlier then expected tapering by the US Federal reserve, which could put the currency once again under pressure.

Meanwhile, Sensex was trading lower by 55 points, while the Nifty lost 15 points in early trade.

Read more about: dollar, currency, qe3 tapering
Story first published: Wednesday, December 4, 2013, 9:42 [IST]
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