The rupee today weakened by 10 paise against the US currency to close at 45.44/45 on increased dollar buying by importers, mainly oil refiners.
Dealers said the dollar strengthened against major rivals overseas which also weighed on the rupee.
At the Interbank Foreign Exchange (Forex) market, the local currency opened weak at 45.40/42 a dollar. It moved in a range of 45.38 to 45.53 during the day.
Dollar buying by importers, mainly oil refiners, amid US unit's gain in New York yesterday affected the rupee value, dealers said.
The euro was down today against dollar due to uncertainty over a resolution to its debt problems and soured sentiment for the single currency.
Further, weakness in domestic stock markets also partly weighed on the rupee, dealers said. The benchmark Sensex, which was down by over 70 points in afternoon trade, ended up by 29.18 points or 0.17%.
Global crude oil prices were trading at USD 82 a barrel in London today.
The rupee premium for the forward dollar ended steady to lower on stray receivings by exporters.
The benchmark six-month forward dollar premium payable in August ended slightly down at 60-1/2-62 paise from 62-63 paise
on Wednesday and far-forward maturing in February closed with
hardly any changes at 124-126 paise from 124-1/4-125-1/4 paise
previously.
The Reserve Bank of India fixed the reference rate for the dollar at Rs 45.49 and for the euro at Rs 62.22.
In cross currency trade, the domestic currency firmed up against the pound and the euro while reacted downwards against the Japanese Yen.
The rupee recovered marginally against the pound to end at Rs 69.42/44 per pound from yesterday's close of Rs 69.64/66 and remained firm against the euro to close at Rs 62.10/12 per
euro from Rs 62.49/51 previously.
It, however, declined against the yen to Rs 50.34/36 per 100 yen from its last close of Rs 50.12/14.
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