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Rupee declines sharply

MUMBAI: The rupee declined by 27 paise to close at 45.45/47 a dollar on Thursday, succumbing to a fresh round of heavy dollar demand on the back of a resurgent dollar overseas and partly weighed down by a fresh meltdown in the bourses following the slide in Asian markets. After the overnight smart 32 paise rally, nervousness once again gripped the interbank foreign exchange market from the onset of business with the rupee resuming distinctly weak at 45.40/42 a dollar and initially tumbled to 45.55/57 a dollar. — PTI

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