Rupee hits fresh 1½ month low

At the Interbank Foreign Exchange Forex market,the domestic unit declined by 15 paise to 49.18 a dollar,weakest since July 13. Tuesday,the rupee ended 21 paise lower at 49.03/04 against the US currency.

Forex dealers said rupee remained weak on anticipation of more capital outflows as the stock markets may extend losses in line with other Asian bourses,which are down up to 2.8 per cent in morning trade.

Besides,huge dollar demand from importers,particularly refiners,led to the downward movement in rupee.