Rupee ends

The Indian rupee ended slightly cheaper at 42.72/73 against the greenback on Monday on month-end dollar demand by oil companies, amid continued weakness in Asian stocks. Local currency fluctuated in a wide range of 42.7950 and 42.53 during the day after resuming weak at 42.7900/7950 a dollar from its last close of 42.71/72 a dollar. Dealers said the rupee attempted a smart rally and touched the day's high of 42.53 in early trade due to heavy dollar selling by foreign banks. Global crude oil was trading above 133 dollars a barrel in Asian trade on Monday, Asian stocks were under tremendous pressure and stayed weak for the last few days on fears that high inflation rate and weakness in the US economy.
Sensex lost 301 points to touch the six-week low of 16,348.50 points Meanwhile, the Reserve Bank fixed the reference rate for US dollar at Rs 42.56 and that for single European unit at Rs 67.08.