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Rupee declines further

MUMBAI: Hectic month-end dollar demand amid a fresh rise in crude oil prices drove the rupee to one month closing low of 44.0450/0550 a dollar on Tuesday with the immediate outlook for the currency uncertain due to a slowdown in foreign fund inflows.

In a volatile trading at the interbank foreign exchange market, the rupee breached the crucial $44 barrier and slipped by nine paise from Monday's finish of 43.9600/9650 a dollar after sustained month-end demand took a heavy toll of its value, dealers said. — PTI

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