Mumbai: The rupee turned weak against the US currency and today was quoted at 41.01/02 in late morning deals, buoyed by fresh month-end demand and firm dollar overseas.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the local currency resumed lower at 40.95/97 a dollar from overnight close of 40.90/91 a dollar and later fell further to 41.01/02 a dollar in late morning deals.
Forex dealers said month-end dollar demand weighed on the rupee sentiment, which remained stronger for the past several days.
The dollar also climbed yesterday against major rivals in overseas market, reversing its recent pattern of weakness.
The rupee also witnessed pressure following a subdued trend in equity markets this morning. The benchmark Sensex was down by over 146 points.