Business   

Rupee ends lower against $

MUMBAI: The rupee on Wednesday ended lower at 39.3750/3850 against the dollar amid expectations of central bank intervention in the forex market and weak Asian stock indices.

A banker said dealers were disappointed over U.S. Federal Reserve’s quarter point rate cut, instead of 50 basis points.

In a lacklustre activity at the interbank foreign exchange market, the rupee opened sharply lower at 39.41/42 a dollar against Tuesday’s close of 39.35/36. It later touched a high of 39.43 before falling back to a low of 39.35 on strong recovery in equity markets.

The domestic unit finally ended at 39.3750/3850. — PTI

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

Stories in this Section

No auctioning of 2G spectrum to new players
IT: need for more gender equality
Vikram Pandit is new CEO of Citigroup
DMIC: MP Govt. asked to improve connectivity
Red Fort Capital to launch Rs. 800 crore real estate fund
Equities forge ahead
Rupee ends lower against $
IIP growth leapfrogs to 12 p.c.
FACT selling imported urea
REL bags EPC contract from DVC
ArcelorMittal to buy back 44 m shares
Kinetic–SYM launches Flyte
Exchange Rates
Bullion Rates
SAT allows Essar Steel to delist
Tata Steel inks pact with Sodemi
Two firms submit spectrum charges
GMR sells stake in infrastructure co.
Sundram Fasteners acquires UEL
Livewel Aviation’s MRO facility in Dubai
Cognizant in pact with CSAA for IT services
TV 18 acquires stake in Infomedia
TCY launches online testing
Bharatmatrimony sports new name
IP Rings wins award
MCX to re-launch tin futures

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