Mumbai, January 27: The Indian rupee today tumbled by 24 paise to close at a three-week low of 46.3650/3750 against the US currency following sustained capital outflows due to sluggish equities amid month-end dollar demand.
According to a forex dealer, the rupee fell mainly because of distinctly weak trend in local equities where the benchmark Sensex today crashed by nearly 491 points or 2.92 per cent. The key index had plunged by a total 1,171.26 points or 6.64 per cent in the straight six-sessions.
Sustained capital outflows put pressure on the rupee.
Foreign Institutional Investors (FIIs) pulled out nearly USD 676 billion in four sessions since January 19, according to SEBI data.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the local unit resumed lower at 46.22/23 per dollar and dropped further to a low of 46.42.
Finally, the rupee finished at 46.
–Agencies