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Rupee turns weak against $

MUMBAI: The rupee turned weak against the dollar and ended at 45.02/03, on Tuesday due to the customary month-end dollar demand.

In a restricted activity at the interbank foreign exchange market, the Indian unit resumed flat at 44.98/45.00 a dollar and after moving in a wide range of 44.96/45.07, ended at 45.02/03 a dollar, lower than the previous close of 44.97/98.

Meanwhile, the Reserve Bank of India in its mid-term review of the annual policy statement for fiscal 2006-07 today, increased repo rate by 0.25 per cent to 7.25 per cent and kept the reverse repo rates unchanged at 6 per cent.

— PTI

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