Rupee falls 20 paise vs US dollar

In lacklustre trading, the Indian rupee on Monday depreciated for the second trading session in a row by 20 paise to close at 53.01 against the Greenback on sustained dollar demand from importers amid rise in Wholesale Price Index (WPI).

However, weak dollar overseas and continued capital inflows limited the rupee fall, a forex dealer said.

At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 53.00 a dollar as against last Friday's close of 52.81 and moved in a narrow range between 52.91 and 53.15.

Finally, it settled at 53.01, showing a fall of 20 paise or 0.37 pct. Last Friday, it was down by 13 paise or 0.24 per cent.

The Indian benchmark Sensex, which was down till afternoon session, recovered later and closed up by a mere 38.37 points or 0.21 per cent.

Continued dollar demand from importers, mainly oil refiners, weighed on the rupee. The New York crude oil was quoting above $92 a barrel in Europe on Monday.