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Rupee ends lower
MUMBAI, NOV. 24. The Indian currency on Wednesday ended a notch lower against the U.S. currency on stray dollar demand in choppy two-way trade at the inter-bank foreign exchange market ahead of holidays for the American `Thanksgiving Day' tomorrow and the `Guru Nanak Jayanti' on Friday.
Closing at 45.0650/0750 a dollar, a shade lower from Tuesday's close of 45.06/07, the rupee gyrated either-way on alternate bouts of dollar buying and selling between a 44.9950 and 45.0800 a dollar. It opened relatively firm at 45.0525/0625 in line with a lingering weak dollar overseas.
Despite upbeat rupee sentiments on the back of robust trade and foreign fund inflows, customary month-end dollar demand from large offshore oil companies amidst relatively firm global oil prices kept the currency on the negative side, dealers said.
Strong trade and investment inflows into the country's thriving economy continued to give the rupee firm underlying support in the face of the usual month-end pressures ahead of a string of market holidays, bankers said.
PTI
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