Date:24/08/2006 URL: http://www.thehindu.com/2006/08/24/stories/2006082405721700.htm

Business

Rupee drops three paise

MUMBAI: The rupee on Wednesday fell further against the U.S. dollar after the dollar firmed up against other world currencies.

Other factors which dampened the rupee sentiment were slowing down of flow from foreign institutional investors into the stock markets and persistent dollar buying by banks for oil PSUs, forex dealers said.

In quiet trading at the interbank foreign exchange market, the Indian unit opened low at 46.53/54 a dollar against Tuesday's close of 46.4950/5050 and after moving between 46.5200 and 46.5650, closed at 46.5250/5350. — PTI