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Rupee declines

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MUMBAI: The rupee failed to hold early gains on Wednesday and reacted downwards to end at 40.91/93 against the U.S. currency on dollar short-covering by banks and importers amid weak capital markets.

In quiet trade at the interbank foreign exchange market, the Indian unit opened sharply lower at 40.91/93 a dollar and moved in a range of 40.84 and 41.01 before concluding at the opening level of 40.91/93 a dollar, lower from Tuesday's close of 40.83/84 a dollar.


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