Mumbai: The rupee weakened on Tuesday, retreating from the previous session's more than 15-month high, on the back of the dollar's broad gains versus major currencies and tracking a choppy sharemarket.
At 9:29 a.m. the partially convertible rupee was at 45.51/52 per dollar, weaker than its previous close of 45.34/35. It rose to 45.2850 on Monday, its strongest since Sept. 22, 2008.
The U.S. dollar jumped against the yen and euro on Tuesday after an official at China's sovereign fund said the US currency had hit a bottom and that there was limited room for it to fall further. The dollar reversed some gains after the official said the views are personal.
Most Asian currencies were weaker against the dollar.
The BSE Sensex was choppy in early trade, as mostly weak Asian shares kept sentiment subdued, even as Infosys Technologies rose after posting a smaller-than-expected drop in December-quarter profit.
Bureau Report
First Published: Tuesday, January 12, 2010, 10:12