Rupee continues to slide vs dollar, dips to 45.11 level
The rupee has lost about 39 paise in three sessions since November 10 following heavy dollar demand on behalf of oil companies and other corporates.india Updated: Nov 14, 2006 13:27 IST
The rupee continued its slide against the US currency and on Tuesday dipped to Rs 45.09/10 a dollar in late morning deals on sustained dollar demand from banks amid buoyant equity markets, which saw heavy FII inflows.
In limited activity at the interbank foreign exchange (forex) market, the Indian unit resumed weak at Rs 44.95/97 a dollar from overnight close of Rs 44.9850/9950 per dollar and dropped further to Rs 45.09/10 per dollar in late morning trading on fresh dollar buying.
The rupee has lost about 39 paise in three sessions since November 10 following heavy dollar demand on behalf of oil companies and other corporates.
Banks were seen placing buy orders for dollar while occasionally booking profits at higher levels, a forex dealer said adding "the rupee touched a 45.11 level in early trade".
In overseas markets, the dollar scored a mild recovery against major world currencies on Monday.