Rupee opens low at 44.28/29 per US dollar

Mumbai, Mar 2 (UNI) The Indian Rupee resumed lower today at 44.28/29 per USD as traders were wary of its near-term outlook after a sharp sell-off in local stocks sparked worries of capital flows in the coming days.

Later, the partially convertible Rupee was at 44.29/44.31 per dollar, a tad lower than the previous close of 44.25/26.

Capital inflows are a key support for the Rupee as it helps tide over the country's yawning trade gap. The Rupee has risen by more than 6 per cent after hitting a three-year low of 47.04 in July.

Dealers also blamed the Rupee's weakness on the stronger-than-expected U S manufacturing data, which propped up the dollar against some Asian currencies, brokers added.

UNI