Tuesday, August 1 2006 11:36 Hrs (IST) - World Time -

Mumbai: The rupee today (Aug 1, 2006) turned weak after the overnight bounce and was quoted seven paise down against the US currency in late morning deals in line with weaker Asian currencies against dollar.

In quiet trade at the Interbank Foreign Exchange (Forex) market here, the Indian unit opened lower at Rs 46.60/62 per dollar against Monday's close of Rs 46.55/56 a dollar and later dipped to Rs 46.6250/6350 per dollar in later morning dealings.

Terming the rupee's fall from overnight close as a technical rebound, forex dealers said the dollar was slightly lower in global markets.

Meanwhile, Asian equity markets showed steady trend in morning trading and world crude oil prices stabilised at 74 dollar a barrel level.