Mumbai: The rupee extended its loss for the third consecutive day and fell close to its 20-month low in the intra-day trade as continued weakness in the equity market and increased demand for dollar from importers put pressure on the local currency. The rupee opened the day on a weak note below its psychological 64-level mark against the dollar and hit an intra-day low of 64.26 per dollar.
However, the rupee staged a mild recovery towards the fag end of the trading session on suspected intervention by the Reserve Bank of India (RBI). It finally ended the day at 64 per dollar as compared to its previous days close of 63.90 per dollar. Apart from the weakness in the equity market, experts also attributed the fall in the rupee to the rising bond yields in the Eurozone region.
