Mumbai, Sep 26 (UNI) The rupee drifted lower for the third consecutive day today by 32 paise and ended low at 46.55 against per US dollar from it previous day's close of 46.23, following better dollar demand from importers and state run banks.
The rupee resumed high at 46.15 against the greenback in morning trade due to month-end dollar demand and sustained capital outflows amid weakening dollar overseas. The rupee fluctuated in a narrow range between 46.20 and 46.58 during the session.
In fairly active trade at the Interbank Foreign Exchange (forex) market, the local currency quoted at at 46.15 a dollar in mid session, from its overnight close of 46.23 a dollar but later dropped to 46.42/43 a dollar at mid session.
Forex dealers said the rupee remained under pressure as oil refiners stepped up dollar purchases for their month-end import payments even as global crude oil prices traded below USD 107 a barrel in Asian markets this morning.
They said a sharp slide in equity markets across Asia also weighed on the rupee sentiment.
While the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 46.43 per unit, up by 18 paise against its previous rate of Rs 46.25 per dollar. The reference rate for Euro was down by 16 paise at Rs 67.95 per unit, from yesterday's close of Rs 68.11 per unit, an RBI release stated.
The six-month and annualised forward dollar premium was quoted lower at 1.24 (1.74) per cent and 1.08 (1.38) per cent respectively.
The Rupee ended lower at 67.96/98 (67.93/95) per unit against the Euro. It closed at 85.50/52 (85.79/81 ) per unit against the Pound Sterling and at 44.14/16 (43.68/70 ) per hundred units against the Japanese Yen.
The rupee has crashed by 75 paise in the last three days.
UNI AR SR NP1924