Mumbai, Sep 29 (PTI) The Indian rupee today dropped by 13 paisa to close at 48.10/11 against the US currency due to month-end dollar buying amid rise in equities.
In quite trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed lower at 48.04/06 a dollar from its previous close of 47.97/98 per dollar.
It later got trapped in a small range of 47.98 and 48.11 before concluding the day at 48.10/11.
Dealers said the activity was at low ebb due to curtailed week as the forex market will remain closed on Wednesday for banks half yearly closing and on Friday for 'Gandhi Jayanti'.
The market was closed on Monday, September 28, for 'Dashera'.
Dollar buying by importers, mainly oil refiners, to meet their import requirements mainly weighed on the rupee, they added.
Global crude was trading below USD 67 a barrel in Asian trade today.
Source : PTI