[ Business ] 2012-05-13
 
Rupee down against dollar
The rupee yesterday declined by 21 paise to complete six straight weeks of losses—the longest losing streak since the global financial meltdown in 2008-- after a disappointing factory output in March fueled worries of sagging economy.

Fresh dollar demand from importers, mainly from oil refiners after a strong US currency in overseas weighed on the rupee, even as the Reserve Bank of India had announced a series of measures on Thursday to prop up the domestic unit, a dealer said.

At the Interbank Foreign Exchange (Forex) market, the rupee had touched a high of 53.39 in early trade