Rupee down 4 paise Vs dollar in late morning deals

Erasing all its early gains, the rupee today fell by four paise in the late morning trade due to fresh dollar demand from banks and importers on the back of firm global cues.
The rupee resumed higher at 59.64 against the dollar from yesterday's closing level of 59.68 at the Interbank Foreign Exchange (Forex) Market and firmed up further to a high of 59.60 per dollar on some selling of dollars by banks.
However, it washed out initial gains and was being quoted lower at 59.72 a dollar at 1045 hrs. It moved in a range of 59.60-59.76 during the morning deals.

In the global market, the dollar gained against the euro in their early trade, with a rise on the yield of the benchmark US Treasury note strengthening the US currency's appeal.
Meanwhile, the BSE benchmark Sensex was trading lower by 9.07 points, or 0.05 per cent, at 18,531.82 at 1050 hrs.