Rupee steady versus dollar in morning trade

MUMBAI: The rupee on Friday showed steady trend after resuming on a promising note against the US currency, affected by weakness in Asian equity markets.
   
In dull trade at the Interbank Foreign Exchange (forex) market, the local currency resumed higher at 39.28/30 a dollar from yesterday's close of 39.30/31 a dollar but later came under pressure and was quoted at 39.32/33 a dollar in late morning deals.

The rupee shed initial gains and showed signs of weakness following a sharp fall in value of shares this morning.
   
The benchmark Sensex tumbled by about 178 points in early trade after a strong three-day rally.
   
The activity was at low ebb in the absence of any major market moving factor, forex dealers said.