The Indian rupee on 7 September 2011 settled at one-year low of 46.16/17 against the US currency, down by 5 paise over last close as sustained dollar demand from importers and some banks erased its early gains.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened higher at 46.05/06 a dollar from last close of 46.11/12 and touched a high of 45.98 in line with smart rise in local stocks. It was however not able to maintain the surge concluded the day at 46.16/17. it had ended at 46.35/36 a dollar last on 15 September 2010.
Dealers attributed the fall in rupee to late dollar demand from importers and some banks on expectations of a decline in dollar in overseas markets.
The dollar index, a measure of six major currencies, was down by nearly 0.3 per cent.
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