Date:17/08/2006 URL: http://www.thehindu.com/2006/08/17/stories/2006081702431500.htm

Business

Rupee recovers against dollar

MUMBAI: The rupee on Wednesday recovered against the U.S. currency in range-bound trading, mainly supported by dollar's weakness against major currencies overseas.

Resuming firm at 46.54/56 a dollar following a sharp fall in dollar due to weaker-than-expected U.S. inflation data, the rupee later was trapped in a small range of 46.53 and 46.59 before closing at 46.5750/5850 against Monday's close of 46.62/63.

"There was hardly any activity during the day as many participants remained absent due to Janmashtami holiday in some States. — PTI