Rupee under pressure, dips to 46.90/$

The rupee remained under pressure today and fell sharply by 13 paise against the US currency in late morning deals amidst fairly good dollar demand from importers and corporates.

In lacklustre trade at the Interbank Foreign Exchange (forex) market, the Indian unit opened weak at Rs 46.81/83 per $ from last weekend's close of Rs 46.76/77 a $ and later fell to Rs 46.89/90 a $ in late morning dealings.

The overall market was bearish as high crude oil prices and a slowdown in FII inflows continued exert pressure on the rupee, a leading forex dealer said.

Some banks were seen making $ purchases on behalf of oil companies and corporates, forex dealers said adding "the global crude oil prices have fallen below $75 a barrel level, which is still considered to be at higher".

The rupee is likely fall further once customary month-end $ demand emerged, commented a banker.