Rupee loses 4 paise against $

MUMBAI, JUNE 21. The rupee declined sharply against the U.S. currency today on renewed heavy dollar demand by banks, cutting short a five-session string of rallies, in fairly active trading at the inter-bank foreign exchange market.

Closing at 46.9950/47.0050 a dollar, the rupee fell by over four paise from the overnight closing level of 46.9550/9625, driven- down by all-round dollar purchases from corporates and importers. It opened on a weak note at 46.9650/9750 and traded in a range of 46.9650 and 47.0100 with both foreign and State-run banks steadily bidding the greenback.

- PTI

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