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Wednesday, January 02, 2008

Rupee weakens slightly


Ends at 39.43/44

Rupee eased on Wednesday, weighed by suspected central bank intervention and dollar purchases by oil firms, which spurred some dealers in foreign banks to square off short positions in the U.S. currency.

Rupee ended at 39.43/44 per dollar, weakening from the previous close of 39.41/42. It had gained 12.3 percent versus the dollar in 2007, to be the second-best performing Asian currency after the Philippine peso.