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Rupee little changed

MUMBAI: Hovering around the 12-month low, the rupee on Thursday ended at 45.2850/2950 a dollar, a shade lower from Wednesday's close of 45.28/29 even as it rallied from the early trough of 45.33/34 in quiet and holiday mood trading at the interbank foreign exchange market.

In shallow volume business, the fluctuations were exaggerated amid thin supplies even as a relatively firm dollar overseas continued to weigh on rupee value on the back of FII outlows, dealers said. A festival mood prevailed with most of the major markets closed on Thursday. The rupee, however, took comfort from sliding crude oil prices at below $60 a barrel, they added.

Foreign institutional investors sold shares worth $840 million in October after having pumped in $8.6 billion into the Indian equities during January-September 2005. — PTI

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