The Indian rupee declined by 36 paise to Rs 49.11 per US dollar in early trade today on fresh month-end demand for the American currency from importers, coupled with dollar gains in overseas market.
The rupee resumed lower at Rs 49.08/09 per dollar on the Interbank Foreign Exchange, as against yesterday's close of 48.75/76 per dollar, and moved down further to Rs 49.11 per dollar before quoting at 48.92/93 per dollar at 1030 hours.
The domestic currency moved in a range between Rs 48.86 and Rs 49.11 per dollar during morning deals.
Fresh month-end dollar demand from importers, mainly oil refiners, coupled with dollar firmness in overseas markets, mainly affected the rupee sentiment, a forex dealer said.
In the New York market, the US dollar moved up against most major currency rivals, with the euro ending below $1.36 per euro yesterday as European policymakers continued to debate over the measures needed to tackle the threat of a Greek debt default.
