Date:01/07/2008 URL: http://www.thehindu.com/2008/07/01/stories/2008070152391800.htm

Business

Rupee sheds 14 paise

MUMBAI: The rupee lost 14 paise against the dollar on Monday on fresh month-end dollar demand.

At the interbank foreign exchange market, the rupee resumed lower at 42.90/92 a dollar from its last weekend’s close of 42.88/89 a dollar and later moved down further to end at 43.03.

Dealers said oil companies were seen making dollar purchases at the month-end for their import payments.

Global oil prices neared $142 a barrel in Asian trade, pushed up by continued worries about supplies and weak U.S. dollar. — PTI