Rupee weakens against dollar in early trade

The rupee weakens against the US currency and is quoted lower by about 3.50 paise in late morning dealings on some demand for dollar by banks.

The rupee weakened against the US currency and was quoted lower by about 3.50 paise in late morning dealings on some demand for dollar by banks.

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In lacklustre activity at the Interbank Foreign Exchange (forex) market, the local currency resumed steady at 40.51/53 a dollar from overnight close of 40.5250/5350 a dollar but later dipped to 40.56/57 a dollar in late morning deals.

The rupee's weakness was also attributed to volatile equity market, which was flat during late morning trade.