Rupee eases by 7 paise to 53.29 vs dollar

Rupee eases by 7 paise to 53.29 vs dollar Mumbai: The rupee declined by seven paise to 53.29 in late morning trade on Friday on mild dollar demand from banks and importers despite weakness in the US currency overseas amid higher crude oil prices.

The Indian rupee resumed lower at 53.25 per dollar as against the yesterday's closing level of 53.22 at the Interbank Foreign Exchange (Forex) Market.

It hovered in a range of 53.40 and 53.24 before quoting 53.29 per dollar at 1050 hrs.

In New York market, the US dollar fell against the euro yesterday ahead of jobs data, and the Federal Reserve's statement on Wednesday that it will continue easing measures.

Crude oil prices were up in the Asian trade today, buoyed by optimism over US and European economies and data showing China's manufacturing activity continued to expand in January, analysts said.

Meanwhile, the Indian benchmark BSE-30 share index, Sensex, ruled steady while quoting 19,895.20 points at 1100 hrs.

PTI