The rupee was down by 13 paise to Rs 44.88 per US dollar in early trade today on good demand for the American currency from banks and importers on the back of the firming greenback in overseas market.
The rupee resumed lower at Rs 44.86/87 per dollar as against last weekend’s level of Rs 44.72/73 per dollar and moved down further to Rs 44.88 before quoting at 44.85/86 per dollar at 10.30 a.m.
The domestic currency hovered in a range between Rs 44.80 and Rs 44.88 per US dollar in morning deals.
Good dollar demand from banks and importers in view of the firm dollar in global markets mainly affected the rupee value against the dollar, a forex dealer said.
The dollar extended its gains in New York last Friday, with the euro falling 1 per cent as European political and monetary officials clashed on how to resolve Greece’s debt problems.