Rupee opens low at 48.72, down by 6 paise

Mumbai, Nov 4: The rupee on Tuesday, Nov 4 opened weak at 48.72 against US dollar, down by six paise, from its previous close of USD 48.66 on fresh buying support of dollars by nationalised banks and others.

Yesterday, the partially-convertible rupee ended at a two-week high at 48.66 against the US dollar with a big gain of 94 paise. Later, the domestic currency moved in a range between 48.73 and 48.94 in the intra-day session.

''The rupee declined today as losses in stocks raised expectations that foreign funds may sell some of their holdings after sharp rallies in the previous four sessions, but traders expected the central bank to step in to curb steep falls,'' a dealer said.

UNI