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The rupee was a tad up at 66.73 in the evening session on bouts of dollar selling by banks and exporters amid bearish dollar overseas. The rupee weakened by 3 paise to 66.77 against the dollar at the Interbank Foreign Exchange market today. It hovered in a range of 66.78 and 66.70 before quoting at 66.73, up 1 paise at 5 pm local time. The rupee had gained 28 paise against the American currency to settle at a nearly two-month high of 66.74 yesterday on persistent dollar selling by banks and exporters on hopes of foreign capital inflows into the equity market.

The Libor scandal that has recently come out is certain to affect the finance industry for many years to come. Repercussions from fixing an industry standard rate go far beyond the initial top-level transactions that Barclay's and other leading financial institutions created. Everything from the derivative transactions to residential mortgages has been tied to the Libor, bringing into question the true size of the legal tsunami that is forming.