The greenback was trading at Rs297.03 at the closing of the market, as against the closing of Rs286.9.

The local value continued to lose its value against the mighty US dollar despite its best performance in September this year after the crackdown and short-term measures to lift the local economy and to re-gain the lost value of the rupee i.e arresting the persons involved in hawala/hundi business across the country.

The dealers said that the rupee remained under pressure due to increasing demand for the dollar for import payments.