The Indian rupee snapped a four-day rally as it weakened slightly on Thursday morning on speculative dollar-buying amid the greenback's latest rebound overseas against the euro, dealers said.
At 9:30 am (0400 GMT), the rupee was at 45.2350/2400 per dollar, a little weaker than Wednesday's 43-month closing high of 45.2250/2300 but up from an early low of 45.2525.
"The dollar's latest bounce against the euro has sparked some demand including from a large foreign bank, but we expect (dollar) selling to be strong at around 45.25 and so the range should be 45.21 to 45.25," a dealer at a state-run bank said.