Dollar-rupee futures weakened on Tuesday against US dollar. USDINR October contract went down 4 paise or 0.06 percent at 61.91 as against previous close of 61.95. The most active October contract recorded a high of 62.0475 and a low of 61.875 after opening at 61.95.

A total of 0.61 million contracts were traded till 12:12 pm. Turnover for October contract was at Rs 37.41 billion. Meanwhile, open interest was at 1.17 million.

Indian rupee has weakened on Tuesday against US dollar. Indian currency declined 10 paise or 0.16 percent against dollar to trade at 61.63. Rupee has witnessed a high of 61.56 and a low of 61.72. Its 52-week range was 58.34-63.91.

India's central bank at its fourth bi-monthly monetary policy review on Tuesday has kept key policy interest rates unchanged. Dr. Raghuram Rajan, Governor, Reserve Bank of India (RBI) has decided to keep repo and reverse repo rate at 8% and 7% respectively.

Meanwhile, cash reserve ratio and statutory liquidity ratio have also unchanged at 4% and 22% respectively. The RBI has decided to reduce the liquidity provided under the export credit refinance (ECR) facility from 32% of eligible export credit outstanding to 15% with effect from Oct 10, 2014.