The Indian rupee continued to rule easy against the US dollar in late morning trade on Thursday, slipping 4 paise to 54.40, on month-end dollar demand amid higher dollar overseas.
Forex dealers said month-end dollar buying from importers, mainly refinery companies, affected the rupee's value against the dollar.
The domestic currency resumed lower at 54.47 per dollar against Tuesday's closing level of 54.36 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 54.36 per dollar and 54.48 per dollar before quoting at 54.40 per dollar at 10.40 am.
Money and forex markets were closed on Wednesday on account of 'Holi'.
In New York market, the US dollar climbed against most major rivals on Wednesday, with the euro tumbling below $1.28 for the first time since November on renewed political turmoil in Italy.
Meanwhile, the BSE Sensex was trading 102 points, or 0.54 per cent, lower at 18,602.78 in late morning trade.
