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Rupee weakens further


MUMBAI: The rupee continued to weaken on Wednesday against the U.S. dollar and closed sharply lower at 46.23/24 a dollar on fairly heavy dollar covering by oil companies.

Trade inflows and a strong turnaround in equity market failed to have any desired impact on market sentiment.

In quite trading, at the interbank foreign exchange market here, the Indian unit remained range bound after opening weak at 46.25/26 due to poor attendance, largely affected by the serial bomb blasts in Mumbai on Tuesday. The rupee had closed at 46.1650/1750. — PTI

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