The rupee breached the Rs 51 per US dollar-level today after a 32-month gap on good dollar demand from banks and importers in view of the strong dollar overseas.
The rupee resumed lower at Rs 50.90/91 per dollar at the Interbank Foreign Exchange against yesterday’s close of Rs 50.67/68 per dollar. It dropped further to a 32-month low of 51.01 per dollar before quoting at Rs 50.88/90 per dollar at 10.30 am.
The rupee had last touched Rs 51.20 per dollar on March 31, 2009. The domestic currency moved in a range between 50.84 per dollar and Rs 51.01 per dollar during the morning deals.
Sustained dollar demand from banks and importers on the back of a higher dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
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