MUMBAI: The rupee weakened on Thursday, tracking weak Asian peers and the euro's losses against the greenback, but traders expect dollar selling by exporters to limit the losses. At 11:25 a.m. (0555 GMT), the partially convertible rupee was at 44.9150/9175 per dollar, 0.1 percent weaker than Wednesday's close of 44.8850/8950. "Exporters are selling dollars, which is likely to prevent the rupee from falling sharply," a trader with a state-run bank said. The Indian unit is likely to trade in a range of 44.85-45 during the day, traders said. The dollar was stronger against the euro on Thursday a day after the Federal Reserve gave no hint of providing further economic stimulus, though it held on to its position of keeping interest rates low for an extended period. The outlook for the common currency remains tied to developments in Greece , with markets now squarely focused on a meeting of European leaders on Thursday and Friday. The euro was at $1.4290, while the index of the dollar against six major currencies was up 0.43 percent at 75.098 points. The euro was $1.4384 at the end of trade in domestic currency market on Wednesday, while the index of the dollar against six major currencies was at 74.744 points. "The euro looks well supported at $1.43 and again at $1.4280 levels. It is unlikely to weaken more today unless there is some significant news," a trader with a foreign bank said. Most Asian currencies were weaker against the dollar. For a snapshot, see: Traders said the market will also eye the weekly food and fuel data expected around 11:30 a.m. (0600 GMT) for cues on movements in the stock market. Indian shares reversed early losses and rose 0.3 percent on Thursday as investors picked up beaten down stocks, but the gains are seen as temporary amid caution due to stubbornly high domestic inflation and rising interest rates. I ndia's food price index rose 8.96 percent and the fuel price index climbed 12.84 percent in the year to June 4. In the previous week, annual food and fuel inflation stood at 9.01 percent and 12.46 percent respectively. The one-month onshore forward premium was at 23 points versus 24 at last close. The three-month was at 72.50 points from 74.50 and the one-year was at 243 points from 244.75. One-month offshore non-deliverable forward contracts were quoted at 45.11, weaker than the onshore spot rate. In the currency futures market , the most traded near-month dollar-rupee contracts on the National Stock Exchange was at 44.9400, while those on the MCX-SX and the United Stock Exchange at 44.9425. The total volume at $2.15 billion.

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