Re open low at 39.53 against USD

Mumbai, Oct 9 (UNI) Spot rupee today opened low at 39.53 against US dollar compared to 39.44/45 on the previous day's close on lack of fresh importers demand.

Later, it fluctuated between 39.49 and 39.56 in intra day trade.

Brokers said that Indian rupee drifted lower, moving further away from last week's 9 and half year high on concerns that risk of early elections may spur some foreign investors to sell local shares and repatriate their funds.

Rupee was at 39.53/54 per dollar, weaker than Monday's close of 39.45/46 and backing away from last week's peak of 39.36, which was its strongest since March 1998, brokers added.

UNI