Rupee slips from early gains, marginally down 1 paise vs dollar

The rupee slipped marginally from its early gains by one paise to 64.75 against the American unit in late morning deals on bouts of fresh dollar demand from banks and importers.

The domestic currency opened lower at 64.82 per dollar as against Friday's closing level of 64.74 per dollar at the Interbank Foreign Exchange (Forex) market.

Later, it gained on dollar selling by exporters to Rs 64.69 before quoting at 64.75 at 1045 hrs.

The domestic unit hovering in a range of 64.82 to 64.69 per dollar during the morning deals.

Overseas, the US dollar hovered near a three-week low versus a basket of major currencies in early Asian trade, hampered by doubts that the US Federal Reserve will raise interest rates by year-end.

The dollar index currently trades lower by 0.09% at 94.76 as against a basket of six currencies.

Meanwhile, the benchmark BSE Sensex was trading marginally down at 3.35 points to 27,076.16 at 1100 hrs.