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Rupee depreciates by 37 paise to 54.86 against dollar

Posted on Dec 17, 09:42PM | UNI

The rupee today tumbled by 37 paise to 54.86 against the US Dollar on persistent demand for the greenback from banks and importers, dealers at the inter-bank foreign exchange said.

The local unit opened in red down by nine paise and later lost further by 37 paise to end at 54.86 compared with its previous close.

The rupee registered the day's high and low at 54.89 and 54.40 per USD, respectively, with a major fluctuation.

The rupee depreciated for the second session in a row today following Dollar's gains overseas against other major world currencies, coupled with a weak equity market, dealers added.