The Indian rupee was down 3 paise at Rs 49.46/47 per US dollar at 1030 hours today after moving in a wide range during morning trade.
The rupee resumed lower at Rs 49.60/61 per dollar on the Interbank Foreign Exchange,as against last weekend8217;s close of Rs 49.43/44 per dollar,and dropped further to Rs 49.70 per dollar on good month-end dollar demand from importers.
However,it recovered afterward to Rs 49.34 per dollar before quoting at Rs 49.46/47 per dollar on selling of dollars by banks and corporates due to uncertainty in the currency market.
In the Sydney market,the euro got off to a wobbly and volatile start as investors reacted cautiously to mixed news on Europe8217;s escalating debt crisis.
The Indian benchmark Sensex was down by 195 points,or 1.21 per cent,in early trade today.