Rupee declines

The rupee lost ground against the dollar in the interbank foreign exchange market on Monday; following a fresh rise in the demand for the greenback from importers, dealers said.
The rupee lost 11 paisas and closed at 101.95 to the dollar as compared to the previous closing of 101.84.
“The surge in the dollar buying from oil companies to settle their bills put pressure on the local unit in the forex trade,” a dealer said. “The oil companies paid $80 million in terms of oil import,” the dealer added.