PJ:Rupee hits one-year low of 56.58; tumbles 20 paise vs dollar
Mumbai: Falling for the fourth day in a row, Rupee declined by 20 paise to hit one-year low of 56.58 against Dollar in early trade on Friday at the Interbank Foreign Exchange on increased demand for the American currency from importers.
Besides that, a weak opening in the local equity market put pressure on Rupee but Euro's gain against Dollar capped the losses, traders said.
Rupee had lost 21 paise to end at new 10-month low of 56.38 against Dollar on Thursday on fag-end spurt in Dollar demand after RBI Governor D Subbarao painted a dim macroeconomic picture.
Meanwhile, the BSE benchmark Sensex fell by 150.27 points, or 0.74 per cent, at 20,065.13
