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04-20-2012, 07:40 AM #1
Rupee slides to fresh 3-month low
The Indian rupee ended at more than 3-month low at 52.15/16 per dollar against the American currency on sustained dollar demand from banks and importers in view of higher dollar in overseas market.
The rupee resumed lower at 51.87/88 per dollar at the Interbank Foreign Exchange (Forex) Market as against the last closing level of 51.78/79 per dollar and dropped further to a 3-month low at 52.1650 per dollar before ending at 52.15/16 per dollar, showing a loss of 37 paise or 0.71 per cent.
The rupee had ended at 52.51/52 per dollar level on January 9, 2012.
The domestic currency moved in a range of 51.78 per dollar and 52.1650 during the day.
Sustained dollar demand from banks on the back of higher dollar in the overseas market mainly affected the rupee value against the dollar, a forex dealer said.
Meanwhile, the BSE benchmark Sensex ended higher by 111 points or 0.54 per cent.
Mr. Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said, "The rupee continued its weakness on rising dollar over risk aversion and local demand from oil importers."