Rupee opens low at 47.40 against per USD

Mumbai, Oct 6: The rupee on Monday, Oct 6 opened softer at 47.40/42 against US dollar, as compared to the previous close of 47.07/08, on fresh selling pressure by state-run banks.

Later, the domestic currency was fluctuating in a narrow range between 47.27 and 47.48 during the mid-session. The partially-convertible rupee fell to its lowest since April 2003 as demand for the US currency from foreign banks weighed, but state-run banks sold dollars to help the local unit recover some ground, a leading dealer said.

UNI