Date:25/07/2003 URL: http://www.thehindu.com/2003/07/25/stories/2003072503371600.htm

Business

Rupee edges up

MUMBAI JULY 24. Despite renewed dollar demand from corporates and importers, the rupee ended higher against the U.S. currency today, stretching gains for the third straight session on the back of steady trade and capital inflows.

In fairly active two-way trading at the interbank foreign exchange market, the rupee closed at 46.1450/1550 a dollar, yet another paisa gain from Wednesday's close of 46.1550/1650, but off early high of 46.13/14, following a firm start at 46.14/15.

It, however dipped to intraday low of 46.1850/1950 in late afternoon deals, pulled down by dollar short-covering from corporates and importers, dealers said.

The rupee has appreciated by nearly 14 paise in the last three consecutive sessions. — PTI