The rupee breached the 62 per dollar mark and was trading weak at 62.05 at 4.35 pm local time on sustained demand for greenback from importers.
<blockquote class="twitter-tweet" lang="en"><p>Rupee falls below 62... 62.25 looks likely to be tested ahead of RBI meeting on Tuesday</p>— Gurumurthy K (@gurukmurthy) <a href="https://twitter.com/gurukmurthy/status/538269499506446337">November 28, 2014</a></blockquote>
Rupee currently overvalued with REER at 105. It ought to depreciate. WIth crude lower, imports won't hurt. Will help floundering exports.
— lokeshwarri sk (@lokeshwarri)
November 28, 2014After opening marginally weak at 61.90 against the previous close of 61.87, the rupee hovered in the range of 61.87 and 62.10 in the evening trade.
Forex dealers said that apart from heavy dollar demand from importers, the dollar's gains against other currencies overseas dampened the rupee sentiment.
The rupee had lost 3 paise to end at 61.87 against the greenback in yesterday’s trade on month-end dollar demand from importers.
Meanwhile, the BSE benchmark Sensex surged 255.08 points to 28,693.99 at the closing trade.