Rupee touches multi-year low of Rs 46.80

MUMBAI: The rupee on Tuesday opened firm but again turned weak against the US currency, falling to multi-year low of Rs 46.80/81 per dollar in late morning deals following heavy dollar demand and stubbornly strong dollar overseas.

In quietly active trade at the Interbank Foreign Exchange (forex) market here, the Indian unit opened higher at Rs 46.70/75 per dollar from overnight close of Rs 46.75/76 a dollar but later fell back to Rs 46.80/81 a dollar during late morning deals.

However, it recovered later to Rs 46.75/76 a dollar due to dollar sales by exporters in a bid to book profits.

A sharp fall in crude oil prices at 75-dollar a barrel failed to have any impact on the market, forex dealers said