Rupee trades weak at 62.18 to the dollar

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Rupee trades weak at 62.18 to the dollar
The rupee was trading weak against the dollar at 62.18, a drop of 5 paise over Friday's close. Worries that the Reserve Bank of India may hike interest rates at its monetary policy meet on Dec 18, weighed on sentiments.

Dealers say that what would also be crucial for the rupee would be the Fed Open Market Committee Meet slated for Dec 18.

Should the Federal Reserve decide to taper its asset purchase programme there could be further weakness in the Indian rupee. 

The rupee has been showing signs of weakness in the last few trading sessions on fears of QE3 tapering.

Read more about: dollar, qe3 tapering
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