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Rupee drops further

MUMBAI: The rupee on Thursday depreciated further to close near one-month low of 44.25/2550 against the U.S. currency on some dollar buying amid bearish equity market. The rupee dipped by 16 paise since February 15.

In active trading at the interbank foreign exchange market, the domestic unit opened steady at 44.18/20 a dollar against Wednesday's close of 44.18/19. But, later, it dipped to a low of 44.29 on heavy dollar buying by State-run banks on behalf of the central bank. — PTI

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