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Rupee tumbles 7 paise to $46.46

MUMBAI JUNE 30. The Indian currency weakened considerably against the U.S. currency on Monday, undergoing a sharp downward correction on renewed dollar purchases by State-run banks and partly dragged down by residual month-end dollar demand.

Despite a positive start at 46.38/39 a dollar, the rupee tumbled to lows of 46.50/51, before settling at 46.4650/4750 a dollar at the close, a sharp decline of seven paise from last Friday's close of 46.3950/4050, dealers said.

— PTI

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