Rupee trading weaker, seen rangebound tracking choppy shares

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Reuters
Last Updated : Oct 10 2013 | 1:15 PM IST

Reuters Market Eye - The rupee is trading at 62.07/08 versus its Wednesday close of 61.93/94 as a choppy domestic sharemarket and weaker Asian currencies hurt.

Traders however expect some dollar selling to happen around the 62.25 levels preventing a much sharper rise in the pair.

The Federal Reserve's minutes from its September meeting also hurt sentiment for emerging market currencies. The minutes showed that most members of the central bank's policy committee thought they needed more evidence of sustainable economic progress, though the Fed said it was a "relatively close call" for several voters.

The pair is seen in a 61.80 to 62.30 range for the rest of the session.

(Reporting by Swati Bhat)

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First Published: Oct 10 2013 | 1:02 PM IST

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