Rupee weakens on dollar demand by importers

Weakness in other emerging market currencies globally against the dollar weighs

The rupee was trading weak in the morning trade due to dollar buying by importers and weakness in other emerging market currencies globally against the dollar.

Emerging markets are under pressure after data showing US manufacturing activity slowed sharply raises risk aversion.

At 10:45 am, the rupee was trading at Rs 62.67 compared with previous close of Rs 62.58.

Currency dealers see the weakening bias to continue in intra-day trades.