Re resumes slide as oil demand still hurts
Traders said oil firms, the largest buyers of dollars in the domestic currency market, continued to buy the greenback to meet month-end and year-end demand, especially amid slightly lower global crude prices.
The partially convertible rupee closed at 54.8450/8550 per dollar compared with its close of 54.55/56 on Wednesday. The pair moved in a range of 54.6450 to 54.91 during the session. In the offshore non-deliverable forward market, the one-month contract was at 55.16 while the three-month was at 55.69.