Indian rupee weakened against the greenback in noon trade on Friday. Rupee was lower by 24 paise or 0.43% against US dollar to Rs 55.46 compared to previous close of 55.22 (12.25 p.m.). It opened at Rs 55.22 against US dollar. In the spot market, the Dollar Index decreased 0.08% to 80.63 after opening at 80.72 (01:43 ET). Euro - USD was trading at 1.28 up 0.02% while USD - Japanese Yen was trading at 82.27 down 0.19% (01:54 ET). "The moment rupee goes to 55 plus, you start hearing lot of noise about reforms etc. That is one particular variable, which has huge repercussion and is the most important one which nobody can do anything about. It has impact on the current account deficit and an impact on the fiscal situation also. Rupee is now at around 55.25. My sense is that though government can manage this number, at any level they want but per se, there is a gap in trade account and current account," said Raamdeo Agrawal, joint MD , Motilal Oswal. "The world is not willing to buy too much of exports from India at this juncture and import also looks to be very inflexible, so I think the only adjustment will be through the currency depreciation which is quite dangerous," he added. At 12.30 p.m, the Sensex was trading down 38.68 points or 0.21% at 18,478.66 with 19 components falling. Meanwhile, the Nifty was trading lower by 13.15 points or 0.23% at 5,614.60 with 37 components falling.

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