ENM: Rupee edges down as shares drop; dollar watched
MUMBAI: The rupee edged lower on Tuesday morning tracking weakness in local shares, but dealers said they would continue to watch the dollar's moves versus major currencies for further direction.
At 9:04 am, the partially convertible rupee was at 46.39/40 per dollar, weaker than its close of 46.20/21 on Monday.
Shares fell 0.5 per cent in early trade on Tuesday, with financials leading the decline, taking cues from mostly weak Asian markets. The euro was under pressure on Tuesday and dangerously close to a key support level, as funding concerns about the euro zone drove investors to the safe-haven Swiss franc.
The index of the dollar against six major currencies was up 0.1 percent, and would be closely watched, dealers said.
