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Rupee drops three paise

MUMBAI: The rupee turned weak against the dollar on Thursday due to fresh dollar demand from public sector units and closed lower at 45.16/17.

In a choppy trading at the interbank foreign exchange market, the Indian unit resumed weak at 45.1750/1850 and after moving in a wide range of 45.1250 and 45.1850, closed at 45.16/17, lower than the previous close of 45.1250/1400.

The U.S. currency rose smartly against the Japanese yen and the British pound sterling in New York after overnight weakness. — PTI

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