Rupee opens weaker at 44.53/55 per USD

Mumbai, Mar 13 (UNI) Rupee opened weaker at 44.53/55 per US dollar as compared to last close of 44.49/50, said a forex dealer here.

The rupee strengthened a bit and was trading at 44.51/53 at 1100 hrs.

The foreign fund outflow reported for Thursday by the market regulator SEBI led to negative sentiments in the forex market, however, massive addition in foreign exchange reserves last week are likely to back rupee.

Stronger opening of the equity markets with an initial gain of 30 points and total gain of 118 points to 10,883 points, on the sensitive index of the Bombay Stock Exchange, during the first hour of trading are going to support rupee at lower levels.

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