Rupee touches new low of 46.54/55 per USD

Mumbai, May 31: The Indian currency touched a new low of Rs 46.54/55 per US dollar on the back of continuing foreign fund outflow, a dealer in the forex market said.

Rupee finally closed seven paise weaker at 46.35/37 per US dollar, as compared to the previous close of 46.28/29 per US dollar yesterday.

Earlier, the Indian currency opened weak by 10 paise at 46.38/39/USD, as compared to the last close of 46.28/29.

The rupee traded at 46.26/USD in the mid-morning session.

The equity markets' benchmark index BSE Sensex closed 388 points lower, leading to weaker currency.

The Reserve Bank of India fixed the rupee reference rate at Rs 46.43 per US dollar, 24 paise down from yeserday' rate.

The six-month forward premia ended higher at 0.60 per cent from the previous close of 0.48 per cent.

The one-year forward premia, too, ended higher at 0.76 per cent from the previous close of 0.78 per cent.

The cross-currency closing rate for rupee against euro was 59.55(59.50), up by five paise from the previous close; for pound sterling it was unchanged at 86.85(86.85), and for Japanese Yen it was 41.28 (41.30), down two paise from the previous close.

UNI