Mumbai, August 30: The Indian rupee pared early gains to end 2 paise lower at 46.91/92 against the US dollar today, despite dollar weakness overseas, on month-end demand for the American currency from importers.
At the Interbank Foreign Exchange, the domestic unit opened strong at 46.76/77 a dollar from last weekend’s close of 46.89/90 and touched a high of 46.75.
However, it later dropped to a low of 46.93 before settling the day at 46.91/92.
Dealers attributed the early surge in the rupee to firm Indian equities. Immediately after the onset of business, the BSE benchmark Sensex was up by over 218 points on positive global trends.
But gradually, the index fell into the negative terrain before ending marginally up by 33.70 points, or 0.19 per cent.
The Sensex’s Asian peers also closed in the green today.
—Agencies