Rupee eases by 6 paise against dollar

Rupee eases by 6 paise against dollar

Mumbai: After resuming on a steady note, the Indian rupee on Wednesday reacted slightly downwards by six paise to Rs45.80/81 against the greenback in late morning deals.

In lacklustre trade at the Interbank Foreign Exchange (Forex) market, local currency opened barely stable at Rs45.75/76 from overnight close of Rs45.74/75 a dollar.

But dollar buying by oil refiners to meet their month-end requirements weighed on the rupee and it fell to quote at Rs45.80/81 in late morning deals.

On Tuesday, the rupee had gained by 30 paise and on Monday it moved in a range of Rs45.75 and Rs45.83 a dollar.

According to a forex dealer, the rupee might get support in later part of the day from smart recovery in equity markets.

The Indian benchmark Sensex was up by nearly 154 points at 10:30am, while Asian indices continued to display mixed pattern of trading.

Global crude oil prices were trading near $107 a barrel in Asian trade on Wenesday.