Rupee volatile

MUMBAI, NOV 30: The rupee showed volatile movements against the US dollar following the political uncertainty in the country. Hectic dollar buying and short-covering by banks led the rupee to plummet an intra-day low of 42.63/64 per dollar. However, SBI unloaded dollars in the market, thereby helping the rupee to recover partially.

Opening at 42.53/57 to a dollar, the rupee came under buying pressure from banks, which were mopping up dollars on behalf of corporate clients. The rupee touched a low of 42.63/64 during the day. SBI sold considerable quantity of dollars at this level. The rupee finally ended at 42.57/58, showing a net loss of two paise from the previous close of 42.55/56.