The rupee ended at a fresh two-and-a-half year low of 50.17 per dollar on strong buying by importers and lack of any supplies from foreign investors (FIIs) and exporters.
The dollar had gotten as expensive as 50.30 mid October, but that was only an intraday high and the dollar had closed closer to Rs 50 on that day.
Today's rise in the dollar was more steady and one way. Sentiment on the rupee took a turn for the worse yesterday when the commerce secretary revealed that the highest ever monthly trade deficit of USD 20 billion for October.
Today dealers said there was good dollar buying by a petrochemical company, among others.
Dealers say the dollar could get more expensive if the trade deficit widens and matching FII inflows don't come in.
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