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Rupee extends losses

MUMBAI: The rupee slide gathered further momentum on Monday with the currency tumbling by another eight paise on sustained heavy dollar short-covering amid a robust dollar overseas and extended losses to the third straight session, as market talk of a Chinese yuan revaluation receded. In somewhat nervous trading at the interbank foreign exchange market, the rupee closed at 43.4975/5050 a dollar, sharply lower from last Friday's close of 43.42/43 following a weak opening slot of 43.48/49, reflecting a resurgent dollar against major global currencies, mainly the euro.. — PTI

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