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Rupee declines
MUMBAI:
Despite a strong start amid a retreating dollar overseas, the rupee wilted under renewed pressure, as possible month-end dollar demand and suspected central bank intervention drove it to over two month closing low of 44.66/67 a dollar.
In a slightly nervous trading at the interbank foreign exchange market on Monday, the rupee lost another paisa from last Friday's close of 44.65/66 after resuming on a distinctly firm note at 44.60/62 following the U.S. unit's overseas retreat, dealers said.
The dollar shed a large part of its sharp gains recorded last week against the Japanese yen and the Euro. — PTI
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