Rupee opens weak at 47.86 against US dollar

Mumbai, Nov 6: The rupee tumbled by 40 paise to 47.86 against US dollar in the opening session on Thursday, Nov 6, as against the previous day's close of 47.46, on heavy buying of dollars by foreign banks and others.

The partially-convertible rupee rose to a one-month high yesterday to end higher. Later, it fluctuated in a massive range between 47.58 and 47.96 in intra-day trade. Dealers said ''Rupee fell by one per cent this day on worries that foreigners would keep pulling out funds of a falling share market, but dollar sales by some foreign banks helped contain the losses.''

UNI