The Hindu Business Line : Rupee ends higher in volatile trade

The rupee was volatile against the dollar but ended the day slightly stronger than Friday's close. The domestic currency opened at 40.52/54 and depreciated to touch an intra-day low of 40.72. It ended the day at 40.4850/4950, against the previous close at 40.51/52.

Dealers said that the rupee fell during the day, tracking the slump in the domestic stock market. However, the revival in the stock market also buoyed the local currency. "The rupee recovered after foreign banks started selling dollars. There were also rumours that the Government was considering a review on the issue of participatory notes," said a dealer at a private bank. In the forward market, the 6-month closed at 0.77 per cent (0.33 per cent) and the 12-month ended at 0.78 per cent (0.48 per cent). - Our Bureau

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