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Rupee ends lower

MUMBAI: The rupee fell back after a four-day strong rally against dollar on Thursday and ended at 43.73/74, lower by nearly 28 paise from last close of 43.44/46 a dollar on Wednesday as cash squeeze in the call money market eased. Banks were seen squaring short positions in the dollar after the cash started flowing into the system.

The local currency, however, remained volatile moving in a range of 44.46 and 44.74 at the interbank foreign exchange market. The rupee's slide, however, was mitigated by a slump in the dollar in overseas markets after the U.S. Federal Reserve kept its key interest rate unchanged at 5.25 per cent. — PTI

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