Indian rupee declined slightly against the greenback in noon trade on Tuesday. Rupee was lower by 5 paise or 0.11% against US dollar to Rs 54.55 compared to previous close of 54.50 (12.19 p.m.). It opened at Rs 54.37 against US dollar.
'USDINR found strong support at 54.40-54.30 levels, where rising trend line support falls, drawn from Dec 6th lows. The future trend depends on market behavior today. If price holds these strong levels then price could regain its positive sentiment,'' said Emkay Global Financial Services.
In the spot market, the Dollar Index increased 0.04% to 79.52 compared to previous close of 79.48 (01:40 ET).
Euro - USD was trading at 1.33 down 0.25% while USD - Japanese Yen was trading at 88.85 down 0.70% (01:52 ET).
At 12.20 p.m, the Sensex was trading up 35.51 points or 0.18% at 19,941.92 with 16 components gaining. Meanwhile, the Nifty was trading higher by 13.80 points or 0.23% at 6,037.85 with 29 components gaining.
