Rupee down by 14 paise to 54.88 against US Dollar
The rupee fell for the third session in a row today by 14 paise to 54.88 against the US Dollar on rising demand for the greenback from banks and importers, dealers at the Interbank Foreign Exchange said.
The domestic unit increased by 10 paise to 54.64 per USD in the opening trade. Later, it slipped in red and ended at 54.88, down by 14 paise as compared to its previous close.
The rupee registered the day's high and low at 55.12 and 54.61 per USD, respectively, with a major fluctuation.
The local unit remained under pressure because of Dollar's gains against other major world currencies and neagative equity market also dampened the sentiment, the dealers added.
The market will be closed for two days from tomorrow for Diwali festival. It will reopen on Thursday.