Rupee off lows as exporters sell dollars

Reuters Market Eye - The rupee is trading at 62.26/27 versus its close of 62.16/17 on Friday and off the session low of 62.4650 as exporters sell the greenback at higher levels.

Some traders speculate the RBI may have sold dollars in a small quantity around 62.45, prompting exporters to start selling, but this is not the universal view. The central bank had likely sold dollars on Friday, dealers had said.

The index of the dollar against six major currencies continues to trade up 0.1 percent, limiting a further fall in the pair. Most Asian currencies also trading weaker versus the dollar.

Domestic shares <.BSESN> stabilise, continue to trade down 0.2 percent and will be watched for cues on direction of foreign fund flows, traders say.

(Reporting by Swati Bhat)