Rupee slips to 44.55/dollar; at 2-week low

The Indian rupee fell to its lowest in two weeks on Wednesday as losses in domestic shares dimmed outlook for foreign fund inflows.

At 9:25 a.m.,the partially convertible rupee was at 44.5525/5575 per dollar,after falling to 44.5875 in early deals,its lowest since March 31. It had ended at 44.385/395 per dollar on Monday. The market was shut on Tuesday for a holiday.

Indian shares fell 0.5 per cent in early trades on Wednesday,led by telecom stocks as investors were wary after lower-than-expected February industrial output data.

Asian currencies were also weaker than the US dollar on Wednesday.

The index of the dollar against six major currencies was up 0.1 per cent at 74.925 points.