The rupee fell by three paise today to close at an all-time low of 47.1650/1725 as the report of decline in foreign institutional inflow in August caused panic in the forex market. The previous lowest closing was on July 18, when the rupee closed at 47.16/17. Forward premiums tracked call rates and remained range-bound.
The spot rupee opened the day in the 47.14-47.15 range in the morning and weakened during the day to touch 47.1725. According to the dealers, foreign banks were the main buyers while the nationalised banks were the chief suppliers of the dollar.
A dealer with a private sector bank said,
