Indian rupee trades marginally lower against US dollar; shares eyed

Written by Reuters | New Delhi | Updated: Feb 25 2014, 21:53pm hrs
Indian rupee was trading at 61.98/99 against US dollar versus its close of 62.07/08 on Monday, tracking gains in other Asian currencies versus the American currency.

Traders will continue to monitor foreign fund flows for direction. The pair is expected to hold in a 61.80 to 62.20 range during the session with importers expected to step in to buy dollars below the 62 mark. Local shares flat and will be watched for cues.

The dollar steadied against its rivals in Asian trade with major currency pairs sticking to tight ranges as traders awaited economic data later in the session for more clarity on the pace of the U.S. economic recovery.