Indian rupee has weakened on Monday against US dollar. Indian currency declined 17 paise or 0.27 percent against dollar to trade at 62.53.

Swastika Investmart expects the rupee to trade on a neutral to negative note against the dollar taking cues from positive consumer sentiment data from US and weakness in the global markets.

Dollar-rupee futures gained on Monday. USDINR April contract went up 15 paise or 0.24 percent at 62.62 as against previous close of 62.47.

ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilise declines in the USD/INR April contract to buy. Buy USD/INR April futures in the range of 62.32-62.42 with target 62.58-62.74."

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