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Rupee ends lower in choppy trade


Mumbai, April 21

The rupee was choppy as it tracked the domestic equity market and other Asian currencies. It opened weaker at 50.60 because the dollar was strong against other Asian currencies. This was followed by inflows as exporters sold dollars, which pushed the rupee to the day’s high of 50.24 in intra-day trade. The rupee finally ended at 50.47, about 17 paise weaker from the previous close of 50.30/31. The dollar was stronger against other currencies in the overseas market. I n the forward premia market, the six-month closed at 2.7 per cent and the one-year at 2.14 per cent. The sentiment has become positive on the rupee and equity so there could be further dollar selling, which could help the rupee strengthen to the 48 levels, said a rupee dealer with a public sector bank.

— Our Bureau

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