Rupee Ends At 46.05 Against Dollar - Sep 16, 2008

As news of Lehman Brothers registering for bankruptcy sent the stock markets into a churn, the rupee breached the 46- level against the dollar on Sept 15, for the first time in two years. The rupee declined by 30 paise and closed above 46, a level last seen in Sept 2006. The rupee opened at 45.52/54, but soon declined to the day''s low of 46.08. It ended at 46.04/05 against Sept 12 close of 45.74. Bond prices increased by Rs 1.34 on talks of possible rate cuts by foreign central banks, especially by US Federal Reserve after the collapse of two major banks. The 8.24 per cent-10 year-2018 paper opened at Rs 99.5 and reached an intra-day high of Rs 100.69. It closed at Rs 100.55, against the previous close of Rs 99.21