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Rupee continues to slide

MUMBAI: The rupee on Thursday closed at 40.70/71 against the U.S. currency, weaker by another four paise from the previous close of 40.66/67, largely due to consistent dollar purchases by public sector banks. The Indian unit lost 14 paise on Wednesday on fairly good dollar demand from banks. In moderately volatile trading at the interbank foreign exchange market, the Indian unit moved between 40.6250 and 40.7600 after a steady start on hopes of dollar selling by exporters. — PTI

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