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Journalism of Courage
The rupee slipped to a new 14-month closing low of 46.00/01 per dollar, pulled down hectic dollar demand from oil corporates and importers amid a broader strong global dollar, despite healthy FII inflows and stable crude prices. Declining by 7-1/2 paise from Wednesday8217;s close of 45.9250/9350, the rupee came under pressure from the onset of business after it opened weak at 45.94/95 per dollar and steadily fell to a fresh 14-month closing low of 46.00/01 per dollar, dealers said. Although, the interbank foreign exchange forex was relatively quiet, a broader firm global dollar fuelled hectic demand from oil corporates and importers, dealers said. Residual month-end dollar demand also spilled over to add to the rupee woes, they said.
