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Rupee sheds 20 paise

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Our Bureau

Mumbai, Nov. 14

The rupee was down by over 20 paise against the dollar as government banks bought dollars. It opened at 44.97 and closed at 45.19/20, against the previous close of 44.98.

"The rupee may continue to be volatile for some time and see movement of around 20 paise in intra-day trade, because it had moved from 44.35 to 45.25 in just two days," a dealer said.

The dollar saw a small rally against other currencies ahead of the US producer price index and retail sales data scheduled for release later on Tuesday. The six-month forward premium closed at 1.87 per cent (1.79 per cent) and the one-year premium closed at 1.75 per cent (1.68 per cent).

(This article was published in the Business Line print edition dated November 15, 2006)
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