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Rupee ends lower

MUMBAI: The rupee touched a fresh nine-year high and reacted slightly downwards to close at 40.87/89 against U.S. currency on Monday.

In high volatility at the interbank foreign exchange market, the Indian unit resumed remarkably higher at 40.68/70 a dollar and later shot up to a new nine-year high of 40.53 a dollar.

However, dollar short coverings in the last half an hour weighed down heavily on the rupee and it fell sharply to close at 40.87/89 a dollar against 40.8550/8650 a dollar on Friday. — PTI

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