Rupee weakens on shares; dollar watched for cues

Mumbai, April 27: The rupee fell in early trade on Tuesday, weighed by losses in domestic shares and regional peers, with month-end dollar demand from refiners and importers adding to the pressure.

* At 9:07 a.m. the partially convertible rupee was at 44.46/47 per dollar, weaker than 44.39/40 at close on Monday.

* Most Asian currencies eased against the dollar.

* The index of the dollar against six major currencies was down 0.2 percent and dealers said they would watch the dollar’s moves for further direction during the session.

* The euro edged up on Tuesday, pulling away from recent one-year lows, after investors short on the single currency rushed to cover positions, but gains were likely to be checked by on-going worries about debt-laded Greece.

* Indian shares fell 0.3 percent in early trade on Tuesday, with Reliance Industries and ICICI Bank leading the decline on weak regional markets.

—Agencies