Bearish sentiment was seen on the currency market on Monday as the rupee fell against dollar and euro, dealers said. To clear the payments, importers' rush for dollar buying increased before the end of out-going fiscal year, money experts said.
In the meantime, it was observed that the rupee resisted steep decline in terms of the US currency, they added. Other analysts were of the view that poor law and order situation, falling trend in the Foreign Direct Investment (FDI) and in the absence of positive developments of fundamental may cause short supply of dollars.
Only, inflows in shape of remittances cant help in maintaining the country's foreign exchange reserves firm and this factor may cause weakness of the rupee in near future, they added.
The shocking news on Strauss-Kahn, who had been seen as a front runner to be France's next president, soured investor risk appetite, which had already been strained by a rout in various commodities and falls in share prices in the past two weeks. Indian rupee was trading at Rs 44.86 versus dollar and Malaysian ringgit as available at 3.0370 in terms of the US currency.

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Open Buying     Rs 85.50
Open Selling    Rs 85.65
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Buying          Rs 85.34
Selling         Rs.85.38
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