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Mumbai, Oct. 28

The rupee fell by 44 paise against the dollar as the greenback rallied against other major currencies overseas. Though the rupee had breached the 47-level in day trade on Tuesday, it closed well above the 47-mark on Wednesday. The domestic currency opened at 47.10 and weakened to touch an intra-day low of 47.37. It ended the day at 47.35, against the previous close of 46.91/92. Fall in the global equity indices and the dollar’s strength globally exerted pressure on t he rupee. There was a lot of month-end dollar demand from oil importers, which pushed the rupee to a three-week low, said a dealer with a public sector bank. In the forward premia market, the six-month premium closed lower at 3.03 per cent and the one-year ended at 2.99 per cent.

— Our Bureau

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