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Wednesday, September 17, 2008

RBI comes to Rupee's rescue


Ends at 46.33/35

Rupee rose more than 1 percent in volatile trade on Wednesday, boosted by the central bank's move to keep selling dollars and lift deposit rates for non-resident Indians, but stock market losses remained a weight.

Rupee ended at 46.33/35 per dollar, off a high of 46.25, and 1.2 percent stronger than 46.89/90 at the close on Tuesday. It fell to a low of 46.99 on Tuesday, its weakest since July 2006, according to Reuters data.