Date:27/04/2006 URL: http://www.thehindu.com/2006/04/27/stories/2006042705271900.htm

Business

Rupee drops further

MUMBAI: The rupee continued to weaken against the dollar on usual month-end demand along with firming up of dollar against other world currencies.

In a active trading at the interbank foreign exchange market on Wednesday, the Indian unit opened with overnight weakness at 45.0750/0900 a dollar against 45.00/01 on Tuesday and after moving in a range of 45.0100 and 45.1200, closed at 45.11/12, showing further fall over the previous close.

The rupee sentiment was weakened by heavy dollar buying by corporates and state-run banks. — PTI