The Indian rupee declined by 14 paise to Rs. 45.38 a dollar at 11:45 hrs on Friday on fresh dollar demand from banks and importers on the back of higher dollar overseas.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at Rs. 45.40/41 a dollar from overnight close of 45.2450/2550 and dropped further to 45.45 per dollar before quoting at 45.38 at 11:45 hrs.
Renewed dollar demand from banks and importers in view of higher dollar in overseas market kept up pressure on the rupee against the U.S. dollar, a forex dealer said.
In New York market, the dollar extended gains against euro on Thursday, as traders adjusted expectations for the release of U.S. employment data for December from the Labour Department.
