Date:30/03/2007 URL: http://www.thehindu.com/2007/03/30/stories/2007033005651900.htm

Business

Rupee sheds three-day gains

MUMBAI: The rupee snapped its three-day gaining streak on Thursday and tumbled by 71 paise to end at 43.74/76 against the U.S. currency as banks heavily covered their short dollar positions ahead of the month-end. With this fall, the local currency has almost lost all its three-day gains in a stroke. In active trade at the interbank foreign exchange market, the local currency fluctuated in a wide range of 43.25 and 43.80 after resuming at 43.30/32 against Wednesday's close of 43.04/05 a dollar. — PTI