Mumbai: The rupee snapped a two-session rally by shedding 13 pais of RS 44.45 per U.S. dollar in early trade on Monday on fresh demand for U.S. currency from importers and banks in the middle U.S. dollar strength abroad.
The rupee resumed lower at Rs 44.42/43 per dollar at the Interbank Foreign Exchange, from last weekend close of Rs 44.3250/3350 and moved further down to RS 44.45 per U.S. dollar for quoting at Rs 44.39 / 40 per dollar at 10.30 hours.
It hung in a range between Rs 44.35 and Rs 44.45 per dollar in late morning deals.
Fresh U.S. dollar demand from importers and banks, given the rise in the dollar in overseas markets mainly affects the rupee value against the dollar, a forex dealer said.
In Tokyo, dollar and yen were at their European competitor in early trading ahead of a eurozone emergency meeting later today, supposedly to prevent the Greek sovereign debt contagion spreads to Italy.
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