Rupee opens five paise weaker at 44.93/94 per USD

Mumbai, May 9: The rupee opened weaker by five paise at 44.93/94 per US dollar as compared to the last close of 44.87, said a dealer in the forex market.

The rupee weakened further in the mid-morning session trading at 44.96/97 per dollar.

The down trend in the stock markets with loss of 96 points to 12,366 points on the Bombay Stock Exchange (BSE) was putting pressure on the rupee.

Also the crude oil prices at USD 69 per barrel though much lower than an all time high of USD 75 per barrel, was still at a very high level, which was a factor weighing against the rupee, said a money market expert.

UNI