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Rupee crosses 42 level

The rupee crossed the psychological mark of 42, on Monday, due to lower industrial production data, high oil price and inflation.
The lack of dollar supply combined with continuing dollar demand from domestic oil companies, also made the greenback dearer in the currency market.
On Monday, the rupee ended at 42.05 against the dollar, about 46 paise lower than the previous close of 41.59/60.
The rupee was last seen at 42 levels in April 2007.
Dealers said it may hover around 42 for the next two to three months.

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