Snapping four days of straight gains, the rupee weakened by 11 paise , on Wednesday, to close at 54.49 against the dollar after climbing to 54.18 during early tradeon fresh demand of the US currency from importers.
At the inter-bank foreign exchange market, the rupee opened slightly lower at 54.40 a dollar from its overnight close of 54.38.
Later, the rupee moved in line with local equities in a range of 54.18-54.86 before closing down at 54.49.
A firm dollar overseas also weighed on the rupee sentiment with the Euro declining 0.3 per cent to $1.257 but inflows restricted the rupee’s fall to some extent.
