Wednesday, Jan 26, 2005
Wednesday, Jan 26, 2005 |
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MUMBAI, JAN. 25. The rupee today weakened against the U.S. currency due to the early emergence of customary month-end dollar demand ahead of the Republic Day holiday tomorrow even as the market remained apprehensive over a slowdown in foreign fund inflows and relatively firm global oil prices. In slightly nervous business at the interbank foreign exchange market, the rupee ended at Rs. 43.79/80 a dollar, a 3-1/2 paise decline from Monday's close of Rs. 43.7550/7650 after dipping to early lows of Rs 43.82/83. It opened weak at Rs 43.80/82 per dollar. The usual month end dollar demand ahead of the Republic Day holiday tomorrow exerted renewed pressure on the rupee today with sentiment affected due to a slowdown in foreign fund inflows and rising world oil prices, dealers said. Global oil prices were hovering near eight week lows of $49 a barrel due to severe winter conditions in the U.S. north-east and continued violence in Iraq. The rupee hit a low of 43.82/84 in late morning deals PTI
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