Rupee weakens slightly against US Dollar

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Mumbai, Sep 25 (UNI) The Rupee opened steady and weakened slightly during the course of trading at the Interbank Foreign Exchange (forex) market today.

The local currency started at Rs 39.76/78 nearly steady from the previous close of Rs 39.76/77 per U S Dollar. The Indian unit later eased marginally and traded at Rs 39.80/81 against the American Greenback, dealers said.

The Indian currency which had touched a new nine year high yesterday when it closed at Rs 39.76/77. The Rupee was on its gaining spree in last couple of trading sessions.

Heavy inflow of US Dollars by foreign institutional investors (FIIs) in Indian equity market was one of the prime reason for Rupee's surge against US Dollar.

UNI

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