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

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 (209/212paise).