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Rupee slide continues

MUMBAI SEPT. 18. The rupee slide against the U.S. currency stretched to the third straight session today, weighed down by fears of a slowdown in foreign exchange inflows, but rallied smartly from the intraday low, helped largely by dollar sales from State-run banks.

In volatile trading at the interbank foreign exchane market, the rupee closed at 45.97/98 a dollar, another 2-1/2 paise decline from Wednesday's close of 45.9450/9550, but a smart recovery from the intraday low of 46.08/09 after nervous operators, banks and corporates pulled it down on heavy rush to cover short-dollar positions. It opened on a weak note at 45.95/97. The rupee has depreciated by 18 paise in three consecutive trading sessions.

PTI

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