Rupee loses drive, retreats 30 paise against dollar

Snapping a 2-day winning run, the rupee trended down by 30 paise to quote at 64.15 against the US dollar in late-morning deals following a sharp fall in local equities amid fresh dollar demand from importers and some banks.
A weak dollar overseas amid renewed capital inflows, however, restricted the rupee fall to some extent, a forex dealer said.
At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced lower at 64.10 a dollar from previous close of 63.85 and moved in a range of 64.10 and 64.24 before being quoted at 64.15 at 1045 hours, a fall of 30 paise, or 0.47 per cent.

The Indian benchmark S&P Sensex today plunged 442 points at 1045 hours after two days of smart rally while foreign portfolio investors (FPIs) bought shares worth Rs 169.97 crore yesterday, according to provisional data.
The dollar index was trading down 0.16 per cent against its major global rivals despite renewed worries over a Greek exit from the euro zone.
Market is now waiting for the outcome of the IIP and CPI data to be announced late in the day today.