Online edition of India's National Newspaper
Saturday, Jun 23, 2007
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Online edition of India's National Newspaper Saturday, Jun 23, 2007 ePaper |
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MUMBAI: The rupee reacted downwards against the U.S. currency and closed at 40.75/76 on Monday following weak equity market amid some dollar buying by importers. In lacklustre trade at the interbank foreign exchange market, the Indian unit opened steady at overnight level of 40.71/72 a dollar. Later it moved in a narrow range of 40.69 and 40.79 per dollar before concluding the day at 40.75/76 a dollar, four paise lower than previous close. There was some dollar buying from oil refinery companies as global crude oil prices remained high above $68.50 a barrel in Asian trade on Friday, forex dealers said. Weekend dollar short-coverings also dampened the rupee sentiment to some extent, they added. A weak trend in local and Asian equity markets also weighed on the rupee.The benchmark sensex was down by 32 points at close on Friday. — PTI
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