The rupee declined by three paise to 60.26 against the US currency in morning trade on persistent dollar demand from banks and importers on the back of higher dollar in the overseas market.
The rupee resumed lower at 60.30 per dollar as against the last closing level of 60.23 at the Interbank Foreign Exchange market. It eased further to 60.31 before quoting at 60.26 per dollar at 1030 hours (IST).
The domestic unit hovered in a range of 60.25-60.31 per dollar during the morning trade.
Renewed dollar demand from banks and importers in view of higher dollar in the international market mainly affected the rupee against the dollar, a forex dealer said.
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