Rupee weakens on month-end dollar demand
But may strengthen later in the day on Fed move to continue stimulus
 "Rupee weakens on month-end dollar demand")
The rupee weakened in early trade today due to dollar demand from importers on the last day of the month.
At 9:30am, the rupee was trading at Rs 61.36 compared with previous close of Rs 61.24 per dollar.
The two-day US Federal Reserve meeting ended with its chairman, Ben Bernanke, deciding against immediate tapering of the $85-billion-a-month bond buying programme.
Besides, RBI governor Raghuram Rajan assured the street yesterday that the country is in a better position to face US tapering.
Pramit Brahmbhatt, CEO of Alpari Financial Services (India) said that the rupee may trade in the range of Rs 61.00 to Rs 61.50 during the day.
At 9:30am, the rupee was trading at Rs 61.36 compared with previous close of Rs 61.24 per dollar.
The two-day US Federal Reserve meeting ended with its chairman, Ben Bernanke, deciding against immediate tapering of the $85-billion-a-month bond buying programme.
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The rupee may strengthen later during the day on the back of the Fed decision.
Besides, RBI governor Raghuram Rajan assured the street yesterday that the country is in a better position to face US tapering.
Pramit Brahmbhatt, CEO of Alpari Financial Services (India) said that the rupee may trade in the range of Rs 61.00 to Rs 61.50 during the day.