Rupee eases four paise against dollar

Mumbai: The Indian rupee eased further by four paise to 42.94/94 against the greenback in morning trade today on fresh month-end dollar demand amid steady equity markets.

At the Interbank Foreign Exchange market (forex), the local currency resumed lower at 42.90/92 a dollar from its last weekend’s close of 42.88/89 a dollar and later moved down further to 42.92/94 a dollar in late morning trade.

Dealers said oil companies were seen making dollar purchases at the month-end for their import payments.

Global oil prices neared $142 a barrel in Asian trade this morning, pushed up by continued worries about supplies and weak US dollar.

Asian equity markets, including Indian bourses showed narrow movements in morning trading today.

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