ET:Rupee weakens more on rise in importers' dollar demand
MUMBAI: Rupee extended losses in afternoon trades on Wednesday as importers stepped up dollar purchases and the euro weakened against the dollar.
* At 1:45 p.m., the partially convertible rupee was at 52.38/39 per dollar, 0.7 percent weaker from Tuesday's close. It has traded in a 52.03-52.42 band so far.
* Traders said there was defence-related dollar buying in the market, as well as demand from oil importers, the largest dollar buyers in the local market.
* The euro was trading at $1.3280, compared with $1.3414 at the end of local trade on Tuesday, while the index of the dollar against six major currencies was at 79.275 points versus 78.624 previously.
