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Rupee ends at an all-time low of Rs 46.88

The rupee fell by 22 paise against the dollar and ended at an all-time closing low of Rs 46.86/88 on heavy dollar demand from corporates and banks, coupled with thin supply.

The rupee opened steady at Rs 46.64/66, continued to be under pressure and started moving downwards due to sustained month-end dollar demand from corporates and short covering by banks. As the heavy month-end dollar demand from corporates and banks continued during the day and supply remained thin, the rupee witnessed only one-way southward movement throughout the day. It ended at an all-time closing low of Rs 46.86/88, shedding a whopping 22 paise from the previous day's close of Rs 46.64/66.

According to leading dealers, the market witnessed heavy dollar demand from nationalised as well as foreign banks on behalf of their corporate clients.

UNI

Money

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