Wednesday, February 20, 2008

Rupee Plunges To 5-Month Low Of 39.90

The Indian rupee plunged by 13 paise against the greenback on Feb 19 to close at its five-month low of 39.90/91 as heavy demand for dollar continued to pour in from domestic banks amidst the US currency''s scarce availability globally. At the Interbank Foreign Exchange (Forex) market, the Indian unit fell to the intra-day low of 39.94 a dollar after resuming steady at 39.75/77 a dollar. It had fallen by ten paise to close at 39.77/78 per dollar on Feb 18.

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