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Rupee ends below 41 mark

MUMBAI: The rupee strengthened further against the U.S. currency and ended below the 41-mark at 40.90/91 a dollar on Wednesday against 41.1850 on Tuesday in the absence of real proposals to control inflows into the country but for the Reserve Bank of India's lone move that encourages capital outflow. In volatile trade at the interbank foreign exchange market, the local currency moved in a range of 40.86 and 41.15, after resuming firm at 41.08/10. Traders were not satisfied with the measures proposed in the annual monetary and credit policy released by the RBI on Tuesday to contain the rupee's sustained rally in the past few months.

Commenting on liberalisation of outflows, forex dealers, said these proposals were not enough to prevent sustained rally in the rupee, which has risen by more than 6.5 per cent so far in the current year.

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