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Rupee loses further ground

MUMBAI: Losing further ground, the rupee on Friday closed lower at 44.93/94 a dollar after suspected central bank dollar-buying intervention prevented a possible rally on the back of a weak dollar overseas, strong foreign institutional investment inflows and sliding crude prices.

In moderately active trading at the interbank foreign exchange market, the rupee lost yet another 3-1/2 paise from Thursday's close of 44.8950/9050.

PTI

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