Re loses 16 paise to 32-month low of Rs 51.50 per US dollar
The domestic currency had tumbled by 44 paise to Rs 51.34/35 per dollar in the previous session amid dollar demand from banks and importers and firmness of the American currency overseas.
Heavy dollar demand from some banks and importers, mainly oil refiners, weighed on the rupee's fortunes, dealers said.
They said concerns over foreign fund outflows from the domestic equity market and dollar demand from state-run oil refiners also reduced the rupee's attractiveness.
Meanwhile, the BSE benchmark Sensex fell by 191.22 points, or 1.16 per cent, to 16,180.29 in opening trade on Monday.
PTI
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Story first published: Monday, November 21, 2011, 12:00 [IST]