Business Daily from THE HINDU group of publications
Wednesday, Nov 15, 2006

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Money & Banking - Forex
Rupee sheds 20 paise

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).

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