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The rupee extended its fall against the US dollar for the eighth consecutive session in early trade on Thursday on persistent dollar demand from banks in view of dollar firmness in the overseas markets.
The rupee resumed lower at Rs 45.30/31 per dollar on the Interbank Foreign Exchange as against its previous close of 45.25/26 per dollar and dropped further to Rs 45.50 per dollar before quoting at 45.35/36 per dollar at 10.30 a.m.
The domestic currency moved in a range between Rs 45.30 and Rs 45.50 per dollar during morning deals.
Persistent dollar demand from banks and exporters on the back of a higher dollar in the international markets affected the rupee value against the dollar, a forex dealer said.
The US dollar edged higher against most currencies during Asian trade today as risk aversion mounted after another hefty sell-off on Wall Street and heightened fears of the European debt crisis spreading.
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