Rupee to drop early tracking weak euro

The rupee is expected to open marginally weaker on Friday tracking sharp losses in the euro, but trading should be largely rangebound ahead of US non-farm payrolls data due at 1230 GMT.

* The euro fell to its lowest in nearly four months against the dollar in Asian trade on growing worries about sovereign debt problems spreading to the wider euro zone. Losses in the euro were also led by expectations for good US jobs data.

* The index of the dollar against six major currencies was, however, little changed and would be watched for cues.

* On Thursday, the partially convertible rupee closed at 45.245/255 per dollar, off a high of 45.19 but 0.2% stronger than 45.33/34 at close on Wednesday. Earlier in the session, the unit fell to 45.43, its lowest since Dec. 20.

* Dealers expect the rupee to move in 45.20-45.50 band ahead of the non-farm payrolls data.

* At 0240 GMT, the MSCI index of Asian shares ex-Japan was trading down 0.2%, while the Nifty India stock futures traded in Singapore were little changed, providing little direction to the local market.