The rupee dropped against the US dollar after hitting a 3-month high, and was last seen trading weak by 14 paise to 67.36 against the dollar in early trade.
The dollar saw some strength against a basket of currencies and a weak start to equities put pressure on the rupee. Check currency rates here
For the last few days, the rupee has seen some strong gains and ended at a 3-month high of 67.22 on Tuesday.
The currency market would now eye the Monetary Policy slated for Feb 8, 2017. It is likely that the RBI may cut interest rates, which could see bond prices gaining and yields falling.
The rupee has seen good gains, following the Union Budget 2017-18.
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