Business   

Rupee declines

MUMBAI: The rupee cut short a two-session gaining streak on Tuesday and fell by over eight paise to 40.96/97 against the U.S. currency on the back of dollar short-coverings and sustained capital outflows.

In volatile trade at the interbank foreign exchange market, the rupee opened strong at 40.78/80 a dollar owing to sustained dollar selling by banks and exporters. Continued weakness in the dollar overseas also helped the rupee to surge at initial stages. It closed at 40.96/97 a dollar against 40.8750/8850 on Monday.

— PTI

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Rupee declines
TVS Motor to roll out Neo in Indonesia next month
Bike to take on Japanese rivals
Videocon, Spice Communications to set up plants in China
SBI gets nod to reduce stake in subsidiaries
FDI in tobacco: growers, manufacturers divided
IT stocks witness selling pressure
Exchange rates
Bullion rates
YOU Telecom buys IceNet's ISP business
RSWM acquires 50 p.c. stake in SISA S.A.
Phoenix commissions new steel cord press
Ritz-Carlton Hotel plans
Indian Bank's consolidated net at Rs. 810 cr.
MFs allowed to invest up to $4 b overseas
UB to announce acquisition
Sterlite to raise $2 b

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu