Date:01/11/2007 URL: http://www.thehindu.com/2007/11/01/stories/2007110156882000.htm

Business

Rupee moves close to 9-1/2 year high

MUMBAI: The rupee on Wednesday moved closer to the 9-1/2 year high and ended at 39.32/33 a dollar as investors built up positions ahead of the U.S. Federal Reverse meeting.

The Reserve Bank of India, however, intervened in the market to prevent any surge in rupee. In cautious trade at the interbank foreign exchange market, the local currency moved in narrow range of 39.30 and 39.36 during the day after resuming strong at 39.3250/3350 against last close of 39.37/38. — PTI