MUMBAI: Indian rupee opened on a weakening on Friday by 15 paise to 42.28/29 against US dollar in morning trade. In one-way activity at the Interbank Foreign Exchange (forex) market, the local currency resumed lower at 42.22/24 a dollar from its previous close of 42.13/14 a dollar and later dropped to 42.28/29 a dollar in late morning deals.
Forex dealers said importers stepped up dollar purchases with global crude oil prices hovering around USD 126 a barrel level in Asian trade this morning.
They said there was lot of dollar buying from oil refiners and the rupee is expected to move further downward during the day.
Generally, oil companies buy dollars in the last week of the month for their monthly import payments. India imports nearly 70 per cent of its oil requirements.
Indian benchmark Sensex was down 353 points in early trade while Asian indices were trading lower by about 1.0 per cent to 3.0 per cent.
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