The rupee was trading marginally lower at 54.93 against the dollar on weaker domestic equity market tracking weak global cues.
The Indian unit opened softer at 55 on weaker domestic and Asian equity markets. On Monday, it had closed at a two-month low of 54.89 to the dollar on lower industrial output and rising inflation.
The BSE-benchmark Sensex was trading lower by 168 points as investors remain cautious.
Political uncertainty over the fiscal cliff in the US is putting pressure on the global markets. Also, increased demand for the American currency affected the domestic sentiment.
The forex markets had remained closed on Tuesday and Wednesday on account of Diwali festival.
At 1 pm today, the rupee was trading steady at 54.93 per dollar.
