Rupee falls to one-year low of 41.76 against dollar

Resuming its slide against the greenback, the Indian rupee plunged to its more than one-year low of 41.76/77 against a US dollar as the heavy demand for US currency in view of high oil prices continued modest its short supply. The Interbank Foreign Exchange (Durex) market witnessed brisk trade with wide fluctuations in the local currency in a range of 41.55 and 41.79 during the day. The local currency lost 41 pas against the US counterpart.