The Hindu Business Line : Rupee slides further

The rupee slumped against the greenback on monthend dollar demand from importers. The domestic currency opened at 42.80/82 and touched a low of 42.97/ 98. It then bounced back to 42.89/90 but finally ended the day at 42.96/97. The currency had closed at 42.72/73 on Monday.

Dealers said that there was oil-related and month-end demand for dollars.

However, banks were also briefly seen selling dollars when the rupee touched a low of 42.97/98 during the day. "Since, Monday was a holiday in New York, there could have also been a lot of outward remittance of dollars on Tuesday," said a dealer at a private bank.

Forex traders expect the rupee to be in the range of 42.92-43.10 in the current week. In the forward premia market, the 6-month closed at 2.37 per cent and the 12-month ended at 1.75 per cent. - Our Bureau

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