Indian Rupee Trades At 3-day Low Against US Dollar

The rupee fell against its US counterpart on Thursday as domestic equities drifted lower on fresh concerns about Greek bailout.

European officials delayed a decision on a 130-billion euro ($170 billion) bailout for Greece until February 20.

Eurogroup Chairman Jean Claude Juncker said after a conference call between eurozone finance ministers that a final decision on offering 130 billion euros of rescue funds to Greece would be taken on February 20.

Investors were a little skeptical as reports suggested that EuroGroup officials are considering delaying part or even all of the second bail-out package until Greek elections in April.

Snapping three days of gains, the benchmark 30-share Sensex ended the day down 48 points or 0.27 percent at 18,154, while the 50-share Nifty index fell by 10 points or 0.18 percent to 5,523.

The rupee slipped to a 3-day low of 49.54 against the dollar, having depreciated almost 2 percent from a fresh multi-month peak of 48.57 hit earlier in the month. If the rupee weakens further, 49.80 is seen as the next likely support level.