Rupee ends at new low

MUMBAI, SEPT. 6. The rupee fell by over two paise against the U.S. currency today, closing at an all time low of 47.1750/1800, pulled down by renewed dollar demand from banks after slight nervousness again gripped the inter-bank foreign exchange market.

Opening around the overnight finish of 47.15/16 a dollar, the rupee gradually moved down to end at its lowest-ever close, pressurised by steady dollar demand from banks. Public sector banks were mainly bidding the greenback, but there was some demand from other operators also, dealers said.

Although the rupee moved in a tight range of 47.16 and 47.18 in shallow volumes, slight nervousness crept in the market to weaken the rupee following concerns over a slowdown in foreign fund inflows, they added.

It had recovered by around two paise yesterday to 47.15/16 after ending at earlier record low of 47.1700/1750 on Tuesday.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Nervousness grips BSE, Sensex down 26 points
Next     : Ford Ikon sales up in Aug.