The Indian rupee weakened further by 15 paise to 48.90 against the U.S. currency in late morning trade on Wednesday due to month-end dollar demand amid encouraging trend in the local stocks.

The domestic currency resumed lower at 48.85/86 a dollar against its previous close of 48.75/76 a dollar and later fell to a low of 48.90 before being quoted at 48.79/81 a dollar in late morning deals.

Dealers at the Interbank Foreign Exchange market said the rupee remained under pressure as oil refiners continued to buy dollar for their monthly import payments.

Meanwhile, dollar was almost steady against major world currencies in Asian trade this morning.

Keywords: Rupeedollarmoney market

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