Thursday, Jan 01, 2004
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Ending the year at 45.60/61 a dollar, lower from Tuesday's close of 45.56/57, the rupee traded in a fairly broad range of 45.5300 and 45.6100 after opening on a firm footing at 45.53/54 due to the dollar's slide overseas, mainly against the Euro.
The single European currency touched 1.2606 against the dollar, a whisker away from all-time highs of 1.2610 struck last week. Hectic month-end and year-end dollar demand from banks for their corporate clients, mainly offshore oil companies, exerted renewed pressure on the rupee today.
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