Rupee breaches 51-level, down 43 paise vs $

The Indian rupee breached the 51 level in the morning trade as oil refiners stepped up dollar buying at the month-end amid weak equity markets.

In active trade at the Interbank Foreign Exchange (forex) market, the domestic currency resumed weak at 50.90/92 a $ against its previous close of 50.58/59 and later fell to 51.03 level before being quoted at 50.96/97 a $ in late morning trade.

Forex dealers said the rupee came under pressure as oil refiners stepped up dollar purchases ahead of the month-end for their import payments.

They said the local unit also moved downwards as equity markets opened weak this morning.