Rupee slips 14 paise to 45.1850/1950 per USD

Mumbai, May 15: The rupee opened weaker by four paise at 45.08/10 per US Dollar as compared to the last close of 45.04/05, said a forex dealer here.

The rupee then dipped sharply to by 14 paise to 45.1850/1950 per USD in the mid-morning session, the dealer added.

The crude oil prices quoted in the range of 71-72, quite a high price for Indian importers and was putting pressure on the rupee.

Even the stock markets were down this morning, quoting lower by 81 points at 12,204 point on the Bombay Stock Exchange (BSE) which was also a factor working against rupee.

The foreign fund outflow of Rs 1,199 crore in the equity market on Thursday was putting extra pressure on the rupee this morning, an analyst said.

UNI