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Rupee at one-year low
MUMBAI,
JULY 22.
Sustained hectic dollar demand from large oil companies and importers amidst reduced supplies from foreign funds today sent the rupee reeling under severe pressure to an over one-year closing low of 46.25/27 a dollar and stretched losses to the fourth straight session.
Declining by a steep 12 paise from yesterday's close of 46.13/15, the rupee has depreciated by 30 paise in the current week so far with sentiment weak for further losses.
Barring last Friday's central bank supported 11 paise rally, the rupee has fallen by nearly 60 paise since July 9, pulled down by persistent heavy dollar demand.
The rupee opened on a soft note at 46.15/18 and drifted to a low of 46.30/32, before settling at 46.25/27., they added.
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