Rupee down 45 paise against dollar

Fresh dollar demand from banks and importers amid weak equity market pulls the rupee down

The rupee fell 45 paise to a fresh three-month low of 51.75 against the American currency in the late morning trade on fresh dollar demand from banks and importers amid weak equity market.

The rupee resumed lower at 51.61/62 per dollar at the Interbank Foreign Exchange (Forex) market against last Friday's close of 51.30/31 per dollar and dropped further to 51.75 per dollar. It was quoting at 51.68/69 per dollar at 10:30 am.

It moved in a range of 51.58 and 51.75 per dollar during the morning deals.

Fresh dollar demand from banks and importers in view of weak equity market amid firm dollar overseas affected the rupee value, a forex dealer said.

The BSE 30-scrip benchmark Sensex declined 30.94 points or 0.18% to 17,063.57. Earlier, it was down 62 points.

In New York, the dollar extended gains against major currencies last Friday as investors reacted to weak data on US consumer sentiment that weighed on equities.

Meanwhile, crude oil prices slid in Asian in early trade today.