The Indian
rupee continued its south bound journey for the third consecutive session, but recovered partially after logging an intra-trade low of 55.12, still depreciating by 13 paise to close at a fresh 2-month low of 54.88 on fall in industrial production data and higher trade deficit.
Sustained dollar demand from importers, some weakness in local equities amid fresh capital outflows also weighed on the rupee while weakness in dollar overseas could not able to restrict the rupee fall.
At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed better at 54.68 a dollar from last Friday's close of 54.75 and immediately touched a high of 54.61 on initial firm local equities.
However, when the news of fall in Index of Industrial Production (IIP) data, rise in retail inflation and higher trade deficit filtered in it fell sharply to a low of 55.12 before recovering some ground to end at 54.88, still showing a loss of 13 paise or 0.24 pct.
The Indian benchmark Sensex on Monday ended the Samvat year 2068 on slightly bearish note. It closed down by 13.34 points or 0.07 pct, completing three-session of losing string.
Foreign Institutional Investors (FIIs), for the first time in this month, pulled out $4.28 million from the equities on November 9, as per Sebi data.
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