Re down 15 paise at 49.18 a $, hits 1-1/2 month low

The Indian rupee today fell by another 15 paise to hit one-and-a-half month low of 49.18 against the $ in early trade, extending its slide for the third straight day, on expectation of heavy capital outflows and increased $ demand from importers.

Dollar's gain against other currencies also put pressure on the Indian rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic unit declined by 15 paise to 49.18 a $, weakest since July 13. Yesterday, the rupee ended 21 paise lower at 49.03/04 against the $.

Forex dealers said rupee remained weak on anticipation of more capital outflows as the stock markets may extend losses in line with other Asian bourses, which are down up to 2.8% in morning trade.

Besides, huge $ demand from importers, particularly refiners, led to the downward movement in rupee.