Rupee surrenders early gains, ends down 4 paisa at 55.10 on dollar demand

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SummaryTracking stock markets, the rupee today surrendered all of its early gains to decline by four paise at 55.10 amid fresh dollar demand from importers and some banks.

contracts maturing in October ended stable at its overnight closing level of 283-285 paise.

The RBI has fixed the reference rate for the US dollar at 54.9100 and for euro at 70.2380.

The rupee remained sluggish against the pound sterling to 87.75 from previous close of 87.58 and also declined further to 70.56 per euro from 70.32.

It, however, improved further against the Japanese yen to 67.73 per 100 yen from last close of 67.83.

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