Spot Re drops to 43.40/$

The spot rupee opened higher at 43.13/15 per dollar, but the rally was cut short by indirect intervention by the RBI.

Heavy buying of dollars by PSU banks to counter panic selling by exporters saw the rupee drop to 43.39/40 per dollar in early noon deals.

The spot rupee had closed at 43.20 per dollar after the yuan revaluation yesterday.