Rupee eases by two paise against dollar in the late morning trade

The Indian rupee eased by two paise to 62.14 against the American currency in the late morning trade on mild dollar demand from banks and importers on the back of higher dollar overseas.

The rupee resumed lower at 62.15 as against the last weekend’s level of 62.12 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in the range of 62.09-62.24 per dollar before quoting at 62.14 at 1045 hrs.

Mild dollar demand from importers mainly affected the rupee value against the dollar, a Forex dealer said.

In New York, U.S. dollar firmed up by 1.6 pct against the Australian dollar last week, weighed on by remarks from its top central banker and expectations about U.S. monetary policy.

Meanwhile, the Indian benchmark Sensex inched up by 4.05 points or 0.02 pct to 20,719.63 at 1100 hrs.

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