Tuesday, May 13, 2008

Rupee at 42.10 against US dollar

The rupee on Tuesday depreciated by over five paise to 42.10/12 against the US currency following dollar buying by oil refiners and weak equity markets.

In high volatility at the Interbank Foreign Exchange (Forex) market, the domestic unit opened better at 41.96/98 a dollar from Monday’s close of 42.05/06 following weak dollar overseas and firm equity markets in early trade.

However, negative turnaround in local share markets and sustained capital outflows weighed on the rupee sentiment. It, finally ended the day lower at 42.10/12. It moved in a wide range of 41.96 and 42.22 a dollar.

On Monday, the rupee had tumbled by 47 paise.