The rupee was down 31 paise at Rs 47.95 per US dollar in early trade on the Interbank Foreign Exchange today amid persisting demand from banks and importers for the American currency despite dollar weakness in overseas markets.

The rupee resumed steady at Rs 47.65/66 per dollar, as against its previous close of Rs 47.64/65 per dollar, but declined immediately to Rs 47.95 before quoting at Rs 47.84/85 per dollar at 1030 hours.

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