Mumbai, May 17: The rupee today touched an over two-month low of 45.77 before closing 40 paise lower against the US currency on heavy purchases by importers of the dollar, which continued to firm up against the euro.
At the Interbank Foreign Exchange (Forex) market, the domestic currency settled at 45.61/62 a dollar, down by 40 paise, or 0.88 per cent, over the previous close.
Earlier in the day, dollar buying by importers, mainly oil refiners, on hopes that the US currency might improve further following fall in the euro pulled the rupee down to 45.77 a dollar, a level not seen since March 5, 2010, when it logged a low of 45.84, dealers said.
The rupee, however, recovered some of losses due to late profit-booking in dollar and closed at 45.61/62. The rupee had settled at 45.21/22 on Friday last week.
–Agencies