Rupee falls, bundled dollar demand seen after strike

Rupee on its way to snap four sessions of gains

Rupee trading at 55.39/40 vs its previous close of 55.26/27, on its way to snap four sessions of gains. Delayed dollar purchases from oil importers after a two day nationwide bank strike also pushed rupee lower.

Local shares weaken, with the BSE Sensex down 0.50 percent, tracking lower Asian shares on dimming prospects of strong stimulus from the U.S. Federal Reserve.

Government's move to push FDI proposals offers some sentimental support to rupee, with 10 proposals of drug makers up for consideration, traders say.