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Rupee loses 7-1/2 paise

MUMBAI: The rupee on Tuesday lost heavy ground against the U.S. currency due to renewed hectic dollar demand from corporates and importers amid a relatively firm dollar overseas.

The domestic unit ended at 45.83/84 a dollar, a steep 7-1/2 paise decline from Monday's close of 45.7550/7650 after testing intraday low of 45.87/88. It opened distinctly weak at 45.79/80. The Reserve Bank of India fixed the reference rate for the U.S. currency at Rs. 45.85 and for the single European unit at Rs. 53.78. — PTI

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