The rupee closed at a new low of 48.19/20 today breaching the earlier closing low of 48.1250/1350 on October 8 as uncertainty over the border situation continued to trigger a corporate rush to cover positions. In the government securities market, prices dropped by 10-15 paise in a thin and volatile market.
The stock markets ended in the negative zone for the fourth straight day today as investors continued to unwind positions. The 30-stock BSE sensitive index (sensex) ended with a loss of 44.08 points (1.39 per cent) at 3,131.78.
The forex and government securities markets are likely to remain nervous in the near future. The dealers said the rupee may touch the 48.30-mark by Monday while another 40-45 paise dip in gilt prices in the next couple of days cannot be ruled out.
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