Rupee weaker

Published May 28, 2008

KARACHI, May 27: The rupee was marginally weaker on Tuesday but dealers said they expected it to remain stable in the short-term on fresh inflows in coming days.

The rupee was quoted at 68.00/68.20 to the dollar at the close compared with Monday’s close of 67.90/68.20. The wide spreads reflected banks’ reluctance to trade.

“The rupee was slightly weaker today but it should stabilise as fresh inflows are expected,” said a currency dealer in Karachi.--Reuters

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