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Rupee scales fresh 35-month peak

MUMBAI AUG. 11. Breaching the crucial 46 a dollar psychological barrier once again, the rupee scaled a nearly 35-month peak to close at 45.9500/9550 a dollar today, driven-up by bunched up weekend dollar supplies even as the central bank made a lukewarm attempt to contain its rise. Gaining a sharp six paise from last Friday's close of 46.01/02, the rupee hit an intra-day high of 45.93/94, before light dollar demand from State-run banks, possibly at the behest of the RBI partly arrested its gains, dealers said.

The rupee opened relatively firm at 46.00/01 in anticipation of further gains. It had earlier closed at 46.95/96 on August 7. It now appears all set to pierce through the 45.80 a dollar mark and reach 45.7800/7850 logged at the close on September 15, 2000.

PTI

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