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MUMBAI: The rupee turned weaker after the initial firmness and ended five paise lower at 47.94/95 against the dollar on Thursday as the American unit recovered overseas.

The US dollar had touched a three-week low against the euro in the New York markets yesterday but staged a smart recovery in London this afternoon.

The rupee had appreciated by 15 paise at 47.74 against the dollar in early trade in the morning due to weakness in the greenback against major Asian currencies.

Dealers said the US currency's weakness against other Asian currencies and dollar selling by banks, mainly supported the rupee.

Asian bourses were quoted as much as one per cent higher in the morning trade. - PTI

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