In line with steep fall in local equities amid sustained $ demand from importers, the rupee also plunged by 55 paise – largest loss in current calender year – to close at more- than one-month low of 62.91 against the Greenback. Dollar shortcoverings by exporters on the back of firm American unit overseas amid heavy capital outflows also kept the rupee under pressure, a forex dealer said. At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced weak at 62.54 a dollar from last close of 62.36 but initially tried to recover to log a high of 62.4675. Later, it met with strong resistance and tumbled to a low of 62.93 before settling at 62.91, showing sharp loss of 55 paise -biggest fall in absolute term in currency calender year- or 0.88 pct. Previously, it had concluded at 62.97 on March 13, 2015.