The Indian rupee was down by 43 paise to Rs 49.58 per US dollar in early trade today on fresh dollar demand from banks and importers and a weak trend in the domestic equity market.
The rupee resumed lower at Rs 49.25/26 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 49.15/16 per dollar, and dropped further to Rs 49.58 per dollar before quoting at Rs 49.53/54 per dollar at 1030 hours.
Forex dealers said fresh dollar demand from banks, importers and oil refiners and a lower opening in the domestic stock market mainly put pressure on the rupee.
Meanwhile, world oil prices were mixed in Asian trade in a market clouded by concerns over the struggling US economy and discord over a rescue plan for troubled euro zone nations.
In morning trade, New York's main contract, light sweet crude for November delivery, was down by 8 cents at USD 86.03 a barrel.
