Rupee drops 36 paise; trades at 61.40 to the dollar

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The rupee was trading significantly weak and dropped 36 paise in early trade. Weak global cues particularly a fall in the US markets overnight caused weak sentiments for the rupee.

Investors also remained concerned that the US Federal Reserve's QE3 tapering could have an impact on the rupee.

The Federal Open Market Committee is slated to meet on December 17 and December 18, wherein it would decide whether it should engage in a QE3 taper or not.

Should the Fed decide to taper it could have some impact on the rupee.

Story first published: Wednesday, December 11, 2013, 9:55 [IST]
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