Financial Daily from THE HINDU group of publications
Thursday, Jan 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 29, 2004 |
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Money & Banking
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Forex Rupee steady Our Bureau
MUMBAI: The rupee on Wednesday closed steady at 45.3450/3500 in its value against the dollar on account of active intervention by the central bank, said forex dealers. The domestic currency had opened at Tuesday's closing level of 45.3500/3550. The market witnessed good supplies of the dollar and amidst no corporate demand for the greenback, it was mopped up by the RBI, said a forex dealer in a private bank. The intra-day high was 45.3575, while the intra-day low was 45.3325. The forwards market was very active with importers coming to buy dollar forward contracts and there was plenty of inter-bank activity. The six months forward closed almost 30 basis points higher at 1.13 per cent (0.85 per cent) and the one-year closed at 0.91 per cent (0.75 per cent).
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