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Rupee weakens against $

MUMBAI: Late dollar demand from oil corporates and suspected central bank dollar buying intervention on Friday weakened the rupee, preventing a possible sharp extended rally on the back of sustained foreign institutional investment inflows and a sliding dollar overseas.

In choppy two-way trading at the interbank foreign exchange market, the rupee closed at 44.45/46 a dollar, a 2-1/2 paise fall from Thursday's close of 44.4250/4350 and a steep decline from the early peak of 44.35/37. The rupee had gained by ten paise in the earlier two sessions. . — PTI

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