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Rupee gains six paise

MUMBAI: The rupee pared the major part of its early gains but still managed to end the day stronger by six paise at 42.40/41 against the greenback on Monday.

At the interbank foreign exchange market, the rupee moved widely in a range of 42.12 and 42.41 after a strong start at 42.12/13 a dollar following various steps by the Government to curb any faster depreciation of the rupee against the American currency.

Dealers said the rupee failed to hold on to its gains as local stocks fell sharply pulling down the benchmark Sensex by 352 points, or 2.15 per cent, and on fears of more capital outflows from equity markets.

The rupee had closed at 42.46/47 a dollar on Friday. — PTI

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