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The rupee today crashed below the 67-mark to close at a 15-month low of 67.13 against the US currency following a surging demand for the dollar as crude oil prices zoomed past $ 75 per barrel level.
Huge dollar purchases by oil importing companies along with speculative activity largely weighed on the rupee, a currency dealer said.
The rupee drifted sharply to a low of 67.18 in late afternoon-deals before concluding at 67.13, revealing a steep loss of 26 paise
According to a forex dealer, continued selling by foreign investors in local equity and bond markets affected the rupee sentiment.
it had closed at 66.86 on Friday.
According to forex dealers, importer dollar demand back home added to the rupee's weakness.
The Reserve Bank of India, which typically purchases and sells dollars through state-run banks covertly to intervene in the local spot market, was not seen so far, though some lenders were seen selling dollars, dealers said, adding that they were not sure whether that was the central bank or the banks themselves.
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