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Downward correction in rupee


MUMBAI, DEC. 3. Undergoing a downward correction, the rupee today weakened against the U.S. currency following the dollar's overseas rally that spurred local operators to chase bargain purchases in a generally bullish market that helped it cut sharp early losses.

Halting a five session surge that took it to over seven-month peak, the rupee ended at 44.13/14 a dollar, a two paise decline from Thursday's close of 44.10/12, but a smart rally from the initial low of 44.24/26.

PTI

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