The Indian rupee snapped a two-session rally by shedding 13 paise to Rs 44.45 per US dollar in early trade today on fresh demand for the American currency from banks and importers amid dollar firmness overseas.
The rupee resumed lower at Rs 44.42/43 per dollar on the Interbank Foreign Exchange, as against last weekend's close of Rs 44.3250/3350, and moved down further to Rs 44.45 per dollar before quoting at Rs 44.39/40 per dollar at 1030 hours.
It hovered in a range between Rs 44.35 and Rs 44.45 per dollar during morning deals.
Fresh dollar demand from banks and importers in view of the dollar's rise in overseas market mainly affected the rupee value against the dollar, a forex dealer said.
In Tokyo, the dollar and yen gained against their European rival in early trade ahead of an emergency euro zone meeting later in the day, reportedly aimed at preventing the Greek sovereign debt contagion from spreading to Italy.
