Mumbai: The rupee weakened further against the US currency and was quoted lower at Rs 45.03/04 per unit in morning trading on greenback buying by banks coupled with firm dollar overseas.


In quiet trade at the interbank foreign exchange (FOREX) market, the Indian unit resumed steady at Rs 44.97/98 a dollar, but later fell to Rs 45.03/04 in late morning deals on fresh dollar demand from public sector banks.

"Some dollar buying was seen during early trade while FII inflows slowed down into the booming equity markets, which rallied by about 85 points this morning," FOREX dealers said.

In overseas markets, the dollar strengthened modestly against major currencies yesterday after a somewhat positive report on the world's largest economy, the US Federal Reserve, was in no hurry to cut interest rates.