Rupee slips after rising to 62.01 per dollar

The rupee was trading at 62.19 versus its previous close of 62.09/10 after initially rising to 62 tracking a larger-than-expected fall in the retail inflation rate.

The retail inflation slowed to a two-year low in January, providing some relief to the ruling Congress party ahead of national polls, but a third straight fall in industrial output in December offered little hope for an economic rebound.

Domestic shares were trading largely steady.

The rupee is seen moving in a 62 to 62.30 range during the session, traders say.

Copyright: Thomson Reuters 2014