Re Crashes, Closes At 47.14 To A Dollar

The spot rupee plummeted to a new low, falling 10 paise intra-day before closing at 47.1450/1550, after trading at 47.15/16 levels. The forward premiums remained marginally unchanged.

The rupee opened lower at 47.05/06 as against its close on Friday of 47.04 and started falling to its intra-day low in the morning itself with the nationalised banks buying huge quantities.