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Rupee tumbles

MUMBAI: Reeling under severe pressure, the rupee tumbled to fresh five-month closing low of 45.56/57 a dollar on Friday, pulled down by sustained dollar demand amid strained supplies from foreign institutional investors.

Declining by yet another 10 paise from Thursday's close of Rs 45.45/47, the rupee appeared set for a pull-back rally after it opened firm at 45.40/42 a dollar and touched early high of 45.38/39 at the interbank foreign exchange market on the back of a weak dollar overseas. Rupee declined by a massive 27 paise on Thursday — PTI

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