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Rupee dips against $
MUMBAI,
MARCH 3.
Late bouts of heavy dollar demand and a resurgent dollar against major global currencies weakened the rupee considerably today and drove it to an over one-week low in fairly volatile trading at the interbank foreign exchange market.
Closing at 45.2850/2900 a dollar, the rupee lost over five paise from Monday's finish of 45.23/24 after a late round of heavy dollar short-covering by banks coupled with and an advancing dollar overseas exerted renewed pressure on the rupee, dealers said.
The domestic unit opened weak at 45.25/26. Rupee sentiment got a jolt after rising to two-week peak on Monday, as a distinctly firm dollar overseas, led banks and operators scrambling to cover short-dollar positions, a dealer said, adding "uncertainty over the near-term outlook may keep the forex spot trading nervous tomorrow".
PTI
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