The Indian rupee lost more ground to the US dollar in early trade at the Interbank Foreign Exchange here today, shedding 23 paise to 45.54 per dollar on sustained demand from banks and dollar firmness overseas.
The local unit resumed lower at the forex market at 45.44/45 per dollar as against Tuesday's close of 45.31/32 per dollar, before dropping further to 45.54 per dollar. The rupee was quoted at 45.50/51 per dollar at 10:30 am.
Sustained dollar demand from banks mainly dragged down the rupee vis-a-vis the dollar, a forex dealer said.
The dollar has seen a resurgence against the euro and other currencies in the wake of the US Federal Reserve's steps to ease the monetary policy and pick up billions worth of treasury bonds.
