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Rupee ends lower
MUMBAI: Sustained capital inflows and a fresh surge in equity markets not- withstanding, the rupee on Friday ended lower at 39.81/82 against the greenback on heavy dollar demand from foreign banks as well as the central bank’s intervention in favour of the U.S. currency.
In active trade at the interbank foreign exchange market, the rupee moved in a range of 39.67 and 39.85 after resuming marginally down at 39.68/70 a dollar from Thursday’s close of 39.71/72.
The rupee attempted a recovery from early lows of 39.82 on the back of firm equity markets but later fell back as foreign banks stepped up dollar purchases along with public sector banks, which were buying dollar on behalf of the Reserve Bank of India, forex dealers said. — PTI
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