Mumbai, November 16: The rupee today ended lower by seven paise at a fresh seven-week low of 45.31/32 against the US currency on steep fall in local equities amid continued dollar buying by importers, mainly oil refiners and some banks.
Expectations of increased capital outflows to meet the dividend payouts for approaching Christmas holidays at the December end and a firm dollar overseas too kept the rupee under pressure, dealers said.
The dollar index, consisting six major currencies, was up by 0.05 per cent in London.
At the Interbank Foreign Exchange (Forex) market, the local unit resumed higher at 45.15/16 a dollar from overnight close of 45.24/25 and immediately touched a high of 45.09 due to initial rally in equities.
But heavy sell-off in stocks after mid-morning pulled it down to a low of 45.33 before settling the day at 45.31/32.
After touching a high of 20,380.
–Agencies