Date:16/10/2008 URL: http://www.thehindu.com/2008/10/16/stories/2008101653731700.htm

Business

Rupee loses 43 paise

MUMBAI: A sudden spurt in demand for the U.S. dollar on Wednesday cut short the two-day winning streak of Indian rupee which closed the day at 48.52/53, weaker by 43 paise, against the greenback.

Foreign exchange dealers said overseas banks made hectic dollar purchases in the non-delivery forwards.

The rupee resumed weak at 48.38/40 a dollar and later moved in range between 48.37 and 48.62 during the day.

It had closed at 48.09/10 on Tuesday. — PTI