Erased initial gains on fresh demand for the American currency from banks and importers
The dollar strengthened in the overseas currency markets as well.
The rupee resumed lower at 55.14 per dollar as against yesterday's close of 55.07 at the Interbank Foreign Exchange (Forex) Market. It moved between 55.21 and 55.02 per dollar before quoting at 55.19 per dollar at 1040hrs.
The rupee was in line with the stock market movements.
It had strengthened by 45 paise yesterday to close at one-month high of 55.07 against the dollar, tracking a jump in local shares.
However, it declined to 17,609.24 before quoting at 17,646.39 at 1050 hrs, up 44.61 points or 0.21% from yesterday's close.
The Indian rupee rebounded from session lows to gain for the day after the economy grew more strongly-than-expected in the April-June quarter, while ...