Date:03/05/2008 URL: http://www.thehindu.com/2008/05/03/stories/2008050352841500.htm

Business

Rupee slide continues

MUMBAI: The rupee continued its slide against the dollar for the fourth consecutive day on Friday and closed 13 paise weaker at 40.64/65 even as the U.S. currency gained against its key currencies. At the interbank foreign exchange market, the rupee dropped to the intra-day low of 40.78 a dollar after resuming steady at 40.52/53. It closed at 40.51/52 a dollar on Wednesday.

The rupee premiums on forward dollar closed higher due to some paying pressure from banks and corporates. — PTI