The Hindu Business Line : Rupee ends flat

The rupee closed flat against the dollar on Wednesday, losing most of its intra-day gains due to the Satyam fiasco. The currency opened at 48.44/50 and gained to touch an intra-day high of 48.36. It then depreciated to touch an intra-day low of 48.90, before closing at 48.76/78, against the previous close of 48.70.

Negative sentiments prevailed in the forex markets after the news of the resignation of the Satyam Chairman and Managing Director over fudged accounts filtered in, he added. The news led to a 750-point crash in the equity markets, with massive FII pullout to the tune of Rs 1,111 crore. In the forward premia market, the six-month closed marginally higher at 2.3 per cent (2.24) and the one-year closed at 1.82 per cent (1.74).

— Our Bureau

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