Tuesday, Jul 06, 2004
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MUMBAI, JULY 5. The rupee ended higher against the U.S. currency on fresh dollar sales on the interbank foreign exchange market here today. The Indian currency, which started steeply higher, failed to maintain the initial firmness due to late dollar demand which minimised the gains. However, the closing rates were better than the previous week's level. The rupee opened firm at 45.65/70 a dollar, but later eased to close at 45.82/83, marginally higher than the previous close of 45.87/89. The strength of the rupee at the initial stage was also due to fall in the value of dollar against other world currencies. The U.S. currency had declined sharply, especially against the euro, on heavy euro demand following a slowdown in U.S. job growth for June, dealers said. The Indian currency, however, declined against other currencies. — PTI
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