Rupee breaches 62 mark in early trade

Bearish equities, month-end dollar demand affect rupee

The rupee breached the Rs 62 per dollar mark in early trade due to month end dollar demand from importers. Bearish equities also dampened sentiments.

At 10:10 am, the rupee was quoting at Rs 62.04, weaker by 22 paise against the previous close.

Currency dealers believe the central bank may intervene later and save the rupee if there is too much volatility.