Date:01/07/2006 URL: http://www.thehindu.com/2006/07/01/stories/2006070102871800.htm

Business

Rupee gains 24 paise

MUMBAI: The rupee on Friday made a remarkable rally against the U.S. dollar and closed steeply higher at 46.0450/0525 a dollar against 46.28/29 on heavy dollar selling.

The rupee opened sharply higher at 46.10/14 against the overnight close of 46.28/29 and after rallying further to the day's high of 46.000, closed at 46.0450/0525. In the cross-currency deals, the rupee closed sharply weak against the British pound sterling and against the single European unit.

The Reserve Bank of India fixed the reference rate for the dollar at Rs 46.0800 per dollar from Rs 46.34. — PTI