Date:04/06/2008 URL: http://www.thehindu.com/2008/06/04/stories/2008060456051600.htm

Business

Rupee sheds 20 paise at 42.61

MUMBAI: The rupee lost 20 paise at 42.60/61 against the dollar on Tuesday on sustained pull-out by foreign funds from equity markets and on some dollar buying by importers.

At the interbank foreign exchange market, the local unit opened lower at 42.45/47 a dollar from Monday’s close of 42.40/41. The domestic unit moved down further to a low of 42.64 before concluding the day at 42.60/61.

Forex dealers said fears of further rise in inflation on imminent fuel price hike pushed the rupee downwards. — PTI