Mumbai, January 15: Erasing its early gains, the rupee was trading 11 paise down at 45.73 against the dollar in late morning deals on good demand from banks for the US currency that was going strong against its other major rivals.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit had opened four paise up per dollar from its yesterday’s closing level of 45.62/63 per dollar.
It was quoted at 45.66/67 in the late morning deals.
Strong dollar in overseas market mainly affected the dollar-rupee value in the domestic market, a dealer said.
The dollar today rose in the overseas market as investors were cautious of building risker positions.
–Agencies