Rupee Ends At 40.73 Against Dollar

Mumbai: The rupee fell by around 30 paise against the dollar on March 17 following the meltdown in the domestic stock market. The currency opened at 40.70/72 and touched an intra day low of 40.83. It, however, recovered during the day to end at 40.72/73, against the previous close at 40.44/45. The domestic currency opened lower, reacting to the 0.25 percentage point cut in the discount rate by the US Federal Reserve. In the forward premia market, the 6-month closed at 1.59 per cent (1.37) and the 12 month ended at 1.17 per cent (1.07).