Rupee down by 19 paise to Rs45.40 per US dollar

The Indian rupee fell by 19 paise to Rs45.40 per US dollar today on renewed demand for the American currency from banks and importers amid strengthening of the dollar in overseas markets and weakness in the domestic equity market.

Forex dealers said strengthening of the dollar against major currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.

At the Interbank Forex Exchange, the rupee resumed lower at Rs45.28/29 per dollar as against the previous closing level of Rs45.21/22 per dollar and dropped further to Rs45.40 at 10:30 hours.

The rupee moved in a range between Rs45.25 and Rs45.40 per dollar in morning deals.

The dollar rose against its European counterpart today, benefiting from persistent worries about euro-zone debt problems.

Meanwhile, oil was down in Asian trade today due to weaker US energy demand and traders locking in profits from the previous day's gains, analysts said. New York's main contract, light sweet crude for July delivery, lost 57 cents to $99.02 a barrel.

The Bombay Stock Exchange benchmark Sensex was down by 68.08 points, or 0.38%, at 10:15 hours.