The rupee on Tuesday ended at 32-month low of 50.67/68 falling further by 37 paise against the U.S. currency due to persistent dollar demand from banks and importers amid weak equities. It closed at 50.30/31 on Monday.
Sustained dollar demand from banks and importers in view of the higher dollar in the New York market mainly affected the rupee value against the American currency, a dealer said.
The dollar extended gains against the euro in New York on Monday following reports that sale of five-year Italian government bonds came at the highest cost to the government since 1997.
The rupee resumed lower at 50.40/41 per dollar on the interbank foreign exchange market as against its previous close of 50.30/31. It dropped further to 50.74 before ending at 50.67/68.
Earlier, it had ended at 50.70/71 on March 31, 2009. The rupee hovered in a range of 50.40-50.74 during the day.
The dollar index was up by over 0.3 per cent against a basket of currencies while global crude oil was trading above $97 a barrel in European market on Tuesday.
The RBI fixed the reference rate for the dollar at Rs.50.5645 and for the euro at Rs.68.7875.
