Indian rupee slips

The Indian rupee came under a little pressure in early deals on Wednesday on the back of the dollar's smart rebound in overseas trade, dealers said.
At 9:20 am (0350 GMT), the rupee was at 45.2500/2550 per dollar, weaker than its previous close of 45.2350/2425, which was near a 3-1/2-year closing high.
"A large private bank and a couple of foreign banks have been buying dollars given that the euro has slipped to a three-month low against the dollar," a dealer at a state-run bank said.
"But inflows, accumulated over the past two days, should pick-up and we expect a 45.24 to 45.27 range for the day." Banks in the financial hub of Bombay were closed on Tuesday for a local holiday.