Rupee at 55.68 against US dollar after initial losses

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The rupee recovered its initial loss on Thursday morning and was trading at 55.68 per dollar due to uneven demand and supply of the American currency from banks and corporates.

The rupee resumed weaker at 55.75 per dollar as against the last closing level of 55.68 at the Interbank Foreign Exchange (Forex) market.

It moved between 55.60 and 55.77 per USD during the morning deals before quoting at 55.68 at 11:00hrs on fresh selling of dollars.
Dealers said that in New York, the dollar weakened on Wednesday against other currencies, pushing the euro briefly above USD 1.26 - a late May level.

Meanwhile, the BSE 30-stock index Sensex was trading down about 40 points.