Re at 54.36; declines 19 paise against $

Re at 54.36; declines 19 paise against $

The rupee on Tuesday fell by 19 paise to close at 54.36 against the dollar due to month-end demand for the US currency from importers.

However, persistent foreign fund inflows and weak dollar overseas restricted the rupee fall’s to some extent, forex dealers said.

The local currency resumed lower at 54.25 a dollar, which was also to be the day’s high, from previous close of 54.17 at the Interbank Foreign Exchange (Forex) on early weakness in domestic stocks and renewed dollar demand from importers, mainly oil refiners to meet their month-end requirements.

It later moved down to a low of 54.41 before settling at 54.36, a fall of 19 paise, or 0.35 per cent.

Foreign institutional investors had pumped in $132.5 million (Rs 717.89 crore), according to provisional BSE data.