Date:23/09/2006 URL: http://www.thehindu.com/2006/09/23/stories/2006092306611700.htm

Business

Uptrend in rupee halted

MUMBAI: The rupee, after a three-day rising streak, turned weak on Friday against the U.S. currency and closed at 45.90/91 a dollar at the interbank foreign exchange market here on fresh dollar demand from oil PSU after rise in crude oil prices.

The Indian currency, which had risen to a three-month high of 45.86/87 on Thursday, opened with further strength at 45.85/86 and rose to a high of 45.83. However, due to fresh dollar demand along with fall in stock prices, the rupee turned sharply weak and after hitting a low of 45.99, closed at 45.90/91.— PTI