Rupee slips from early gains, down 5 paise vs dollar in late morning

Bouts of dollar demand from importers affected the value of the rupee

The rupee slipped from its initial gains by 5 paise against the US currency to 67.89 in late morning deals on bouts of dollar demand from importers.

The Indian unit resumed slightly lower at 67.85 per dollar as against yesterday's closing level of 67.84 at the Interbank Foreign Exchange (Forex) market.

Later, it recovered to 67.77, before slipping back to quote 67.89 at 1045 hours.

The domestic unit hovered in a range of 67.77 and 67.95 during morning trade.

The dollar index was down 0.14% at 98.91 against a basket of six currencies in early trade.

Globally, the US dollar was mostly mixed against its major rivals in early Asian trade.

Meanwhile, the benchmark BSE Sensex was lower by 42.52 points, or 0.17%, to 24,782.31 in late morning trade.