Rupee trades at month low vs dollar late morning

Sheds 11 paise to trade at 54.33 to the greenback, on strong dollar demand overseas

The rupee shed 11 paise to a one-month low against the American currency at 54.33 in late morning trade on sustained dollar demand from banks and importers on the back of a firm greenback overseas.

The rupee resumed lower at 54.43 per dollar against the last weekend's level of 54.22 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 54.32 and 54.44 before quoting at 54.33 per dollar at 1040 hours.

Persistent dollar demand from banks and importers on the back of a firm dollar in overseas markets mainly affected the rupee value, a forex dealer said.

Asian stocks were trading mostly higher in early trade with the yen's slide boosting Japan market but weighing on South Korea after the weekend's Group of 20 meeting remained silent on the Japanese currency's recent depreciation.

Meanwhile, the Indian benchmark Sensex firmed up by 60 points, or 0.31 per cent, to 19,527.94 at 1100 hours.