Sep 17
After breaching the 46-mark on Monday, the rupee closed in on the 47-level against the dollar on Tuesday as strong demand for dollar continued amidst deepening concerns of capital outflows after a turmoil in U.S. financial markets.
The rupee closed at nearly 27-month low at 46.89/90, cheaper by 84 paise or 1.82 per cent.
The rupee had closed just 10 paise away from the 47-level at 46.9050/9150 on July 24, 2006.
Foreign exchange dealers said foreign banks and oil refiners heavily bought dollars in non-deliverable forward market amid low crude oil prices. The interbank foreign exchange market witnessed high volatility as the rupee fluctuated wildly between 46.18 and 46.98 on sustained dollar demand. — PTI