Rupee drops marginally at 61.60 to the dollar

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Rupee drops marginally at 61.60 to the dollar
The rupee dropped marginally at 61.60, falling 7 paise over Monday's close of 61.53 against the dollar.  Markets are awaiting the RBI Monetary Policy due later today.

Any rate cuts would boost prospects of the rupee. However, economists and analysts expect the RBI not to cut repo rates in its meeting today.

The rupee is expected to remain steady during the course of the week. It's also likely to be a truncated week on account of government holidays.

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