The rupee was trading at 62.47/48 compared with its close of 62.56/57, but off the session high of 62.35 on the back of month-end dollar demand from importers, particularly oil firms. Gains in the dollar against other Asian currencies, however, preventing further losses in the rupee. Traders said exporters, particularly a large technology firm, spotted selling the greenback, also limiting further losses. Most Asian markets are shut for the Lunar new year holiday which may keep volumes tepid, dealers said. Domestic shares trading up just 0.2 per cent and will be watched for cues on foreign fund flows.

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