Due to the fresh demand for dollar from banks and importers, the rupee depreciated nearly 23 paisa against the US currency.

Even consistent capital inflows into the equity market from the foreign institutions could not save the fall of rupee and the domestic currency closed at 45.61/62 a dollar at the forex market. According to the dealers the rupee value was affected by the fresh demand for dollar.

However, Sensex was ended at a high of 69.63 points at the day's close. Foreign funds pulled the index up to a hike of 0.41% altogether.

Earlier the Reserve Bank of India fixed the reference rate for the US currency at Rs. 45.47. The euro was fixed at Rs. 62.02. In derivatives market the rupee premium for the forward dollar closed with a decline. The February forward also suffered from fresh receives and ended up low.