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Rupee at new low

MUMBAI: Sustained dollar demand on the back of a robust dollar overseas sent the rupee sliding to new 10-1/2 month closing low of Rs. 44.94/95 a dollar with the outlook for the currency uncertain due to rising crude oil prices amid negative foreign fund inflows.

Extending losses to the fourth straight session, the rupee lost yet another seven paise from Tuesday's close of Rs. 44.87/88 after nervousness continued to hold a vice-like grip on the interbank foreign exchange (forex) market for the second consecutive week, dealers said. The rupee opened weak at Rs. 44.89/91 a dollar after the Dussehra holiday.

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