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Rupee tumbles

MUMBAI: Hectic all-round dollar demand amid thin supplies from trade and foreign institutional investment inflows drove the rupee to over 22-month closing low of 46.39/40 a dollar on Monday.

Tumbling by 27 paise from last Friday's close of 46.12/13, the rupee came under severe pressure from the onset of business after nervousness gripped the interbank foreign exchange market.

Resuming distinctly weak at 46.18/20, the rupee initially dipped to 46.30/31. — PTI

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