Rupee eases at 39.42/44 v/s per USD

Mumbai, Jan 31: Spot rupee, today opened lower at 39.42/44 against the US dollar compared to 39.39/40 on the previous day's close due to lack of dollar demand from foreign banks, dealers said.

Rupee slipped after foreign funds trimmed holdings in local assets, though losses were capped by overseas investor flows chasing higher returns after the US Federal Reserve cut interest rates. Later, it was in the range bound between 39.38 and 39.44 per dollar during the mid-morning session, traders added.

UNI