The rupee fell for third straight session today slipping further by 25 paise to 49.40/41 against the US currency on sustained dollar demand from banks and importers on the back of strong dollar in overseas
markets.
The rupee stayed weak for the third day as banks and importers preferred to increase their dollar position in view of firm dollar in overseas markets, a dealer said.
Also, investors pulled out funds from the domestic equity market, which dropped by nearly 2 per cent in recent sessions.
The rupee resumed lower at 49.40/41 per dollar at the Interbank Foreign Exchange (Forex) market as against the last closing level of 49.15/16 per dollar and dropped further to 49.50 per dollar before finishing at 49.40/41.
It hovered in a range of 49.20 per dollar and 49.50 per dollar during the day.