BUSINESS

Rupee hits one-week low

MUMBAI OCT. 13. The rupee hit a one-week low against the U.S. currency today after persistent all round dollar demand amidst acute shortage of dollar supply wiped out sharp early gains and weakened it considerably even as the `Columbus Day' holiday in New York further aggravated the situation.

In moderately active but cautiously nervous trading at the interbank foreign exchange market, the rupee closed at 45.42/43 a dollar, sharply lower from Friday's close of 45.3850/3950. It, however, opened distinctly firm at 45.32/33 in anticipation of bunched up weekend dollar supplies. — PTI

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