Rupee continues to decline for third consecutive session, hits low of 85.26

THE rupee continued to bleed for the third consecutive day on Thursday, pressured by a firm dollar and importers' month-end dollar demand.

- BENN KOCHUVEEDAN

THE rupee continued to bleed for the third consecutive day on Thursday, pressured by a firm dollar and importers' month-end dollar demand. At the end of the market hours, the currency lost 6 paise against the dollar at 85.2625 from 85.20 in the previous session and had an all-time low of 85.2825 intra-day.

A trader said importers were very active in the market, though trading volume was relatively low as the year-end is nearing. It can be noted that the rupee's drop to 85 from 84 happened over two months, while the decline to 84 from 83 took nearly 14 months.