Rupee at 2-mth lows, plunges 46 p to 55.16 on USD demand
sudden fall in the local stock markets," said Abhishek Goenka, Founder & CEO, India Forex Advisors.
Yesterday, rupee had snapped a three-day losing trend by rising 18 paise.
"Redemptions worth USD 261 million are scheduled for this month. That exerted downward pressure on rupee," said Brahmbhatt.
The premium for the forward dollar ended with slight changes either sides. The benchmark six-month forward dollar premium payable in April edged up to 144-1/2-146-1/2 from overnight close of 144-146 paise.
However, far-forward contracts maturing in October softened to 280-1/2-282-1/2 paise from 281-283 paise.
The RBI has fixed the reference rate for the US dollar at 54.9915 and for euro at 70.2230.
The rupee fell back sharply against the pound sterling to 87.40 from Thursday's close of 86.72 and also dropped against the euro to 70.25 from 69.82.
It also reacted downwards against the Japanese yen to 67.98 per 100 yen from 67.41.
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