Rupee falls below 43 level

MUMBAI, JUNE 8: The rupee fell below the 43 level against the dollar on Tuesday once again to finish at 43.03/04 at the interbank foreign exchange market due to the continuing tension at the Indo-Pak border. Besides, the statement by Reserve Bank deputy governor Jagdish Capoor on Monday that the bank will allow the rupee to find its own levels also made the market nervous.

The rupee has lost nearly 1.50 per cent in the fiscal till date having closed at 42.43 at end-March 1999. quot;The strong statement by the Reserve Bank8217;s deputy governor pulled the rupee down today. Trades were, however, largely inter-bank,quot; said Mecklai Financial Services senior vice-president KN Dey, adding: quot;the rupee will quote between 43 and 43.10 in the coming days.quot;

In the near terms, June premiums closed at 9/11 paise 10/11 paise, July at 24/27 paise 26/29 paise with August quoting at 44/47 paise 46/49 paise while in the far terms, February dollars closed at 179/182 paise 183/186 paise with March at 205/208 paise 209/212 paise.