Rupee ends at 17 month low at 43.59/60 per USD

Mumbai, Aug 18 (UNI) The Rupee today ended at a 17 month low at 43.59/60 against the US dollar with a big loss of nearly 60 paise on heavy dollar demand by Foreign banks and oil sectors.

Trading resumed lower at 43.26, after the three-day holiday, and later fluctuated in a wide range and was quoted between 43.19 and 43.66 during the session.

Rupee was also hit by a weak stock market.

The Indian unit ended at 43.59/60 per dollar, recovering slightly from a intraday low of 43.70, its lowest level since March 29, 2007.

The Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 43.23 per unit, up by 41 paise, against the previous rate of Rs 42.82 per dollar last Thursday.

The six-month and annualised forward premium was quoted lower at 2.92 (4.21) per cent and 2.57 (3.39) per cent, respectively.

The Rupee ended the day stronger at 64.07/09 (63.01/03) per unit against the Euro. It closed at 81.38/40 (80.47/49) per unit against the Pound Sterling. Rupee ended at 39.50/52 (39.15/17) per hundred units against the Japanese Yen.

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