Rupee opens low at 47.92 per USD

Mumbai, Nov 7: The rupee on Friday, Nov 7 resumed low at 47.92 against per US dollar, with a small loss of 18 paise from 47.74 on the previous day's close on some good demand for dollar by foreign banks and others in view of bearish trend in the opening session of equity market.

Later it fluctuated in a narrow range between 47.66 and 47.94 in the intra day trade.

Brokers said, ''The rupee fell more than half a per cent in opening deals due to losses in overseas markets, which in turn would result in drop in the stock market and lead foreigners to continue withdrawing their investments. Foreign funds have sold a net USD 12.6 billion worth of shares so far in 2008, after buying a record USD 17.4 billion in 2007.''

UNI