Date:09/04/2008 URL: http://www.thehindu.com/2008/04/09/stories/2008040951321600.htm

Business

Rupee closes lower

MUMBAI: The rupee lost five paise on Tuesday at 40.01/02 against the dollar. It closed at 39.96/97 on Monday.

At the interbank foreign exchange market, the rupee moved in a range of 39.95 and 40.04. It resumed steady at 39.96/98.

Forex dealers said oil refiners, in the light of high crude oil prices which hovered around $108 a barrel, made some dollar purchases to meet their import demand. The market otherwise, was lacklustre as stocks again turned weak after a smart rebound on Monday. In overseas markets, the dollar firmed up against the euro on Monday ahead of a meeting of the European Central Bank and the Group of Seven leading industrial nations this week. — PTI