MUMBAI: The rupee on Thursday ended ten paise down at a one-week low of 40.50/51 against the U.S. currency on fairly heavy dollar demand from state-owned banks as well as oil refiners.
Meanwhile, the Government announced measures to provide relief to exporters hit by rupee appreciation.
In highly volatile trade at the interbank foreign exchange market, the local currency fluctuated in a wide range of 40.38 and 40.74 after resuming firm at 40.38/39 from the previous close of 40.40/41. Dollar demand prompted by high global crude prices weighed on the rupee sentiment, forex dealers said.
A few state-run banks made fairly heavy dollar purchases possibly on behalf of the Reserve Bank of India, a dealer said. — PTI