The rupee resumed lower at 61.44 as against Wednesday's closing level of 61.41 at the Interbank Foreign Exchange (Forex) and moved down further to 61.54 before quoting at 61.53 at 11 AM.

The local currency hovered in a range of 61.42 and 61.54 during late morning trade.

Month-end dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar, a forex dealer said.

However, strong foreign capital inflows into equity market restricted the rupee's fall, he added.

In the New York market, the dollar inched higher against the euro and pound on Wednesday afternoon after the Federal Reserve's policy statement included no clear guidance about its rate hike plans.

Meanwhile, the benchmark BSE Sensex dropped by 117.39 points, or 0.40 percent, to 29,441.79 at 11 AM.

Latest News  from Business News Desk