Date:25/05/2007 URL: http://www.thehindu.com/2007/05/25/stories/2007052505551600.htm

Business

Rupee turns weak against $

MUMBAI: The rupee snapped a four-day gaining streak against the dollar and ended lower at 40.59/60 on Thursday following late dollar demand from corporates and a sharp slide in equity market.

The rupee weakened in the concluding 30 minutes of trade as a large corporate made dollar purchases.

In quiet trade at the interbank foreign exchange market, the rupee was trapped in a small range of 40.54 and 40.61 after resuming better at 40.54/56 a dollar. — PTI