Rupee extends losses

The rupee extended losses for the third consecutive trading day on Monday, owing to higher demand for import and corporate payments, dealers said. The rupee ended at 104.85 to the dollar from Friday’s closing of 104.82 in the interbank market.

The interbank market initiated the day in the range of 104.85 and 104.87. In the open market, buying and selling of the dollar was recorded at 105.40 and 105.60.