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Rupee extends losses

MUMBAI MAY 30. A late bout of heavy month-end dollar demand from corporates and importers sent the rupee reeling under severe pressure today, extending losses for the third straight session, after it showed early signs of a recovery.

In volatile trading at the interbank foreign exchange market, the rupee closed at 47.09/11 a dollar, sharply lower from yesterday's close of 47.0550/0650, but off intraday low of 47.10/12. It however, opened firm at 47.03/04 and reached a high of 47.00/01 in early trading following fresh exporter dollar sales.

Customary month-end dollar demand pulled down the rupee by over 21 paise in the last three consecutive trading sessions. — PTI

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