A rise in oil prices and a sharp fall in the Japanese yen pulled down the Indian rupee on Friday, traders said. Dealers said there was good demand for dollars from oil companies and corporates, but a further drop in the rupee was checked as state-run banks sold dollars around the 46.60 level.
It was not clear whether the selling was on behalf of the central bank. The partially convertible rupee ended at 46.55/56 per dollar, marginally lower from the previous close of 46.515/525. The rupee has weakened by about 0.2 percent since last Friday.