Financial Daily from THE HINDU group of publications
Thursday, Mar 30, 2006
News
Features
Stocks
Shipping
Archives
Google

Group Sites

 Money & Banking - Forex


Rupee weakens on month-end buying

Our Bureau

Mumbai, March 29

The rupee weakened on Wednesday as the Reserve Bank of India bought dollars. Month-end buying by oil companies also drove the rupee down. The rupee opened at 44.72/73 and touched a high of 44.5250/6350 on good inflows. But due to the RBI's presence in the market, it closed lower at 44.69 against Tuesday's close of 44.64.

The forward premia came down in the morning after the RBI increased the ceiling on FCNR (B) deposits. But they gained later to close slightly higher than Tuesday's levels. The six-month premium ended at 1.87 per cent (1.75 per cent) and the one-year closed at 1.74 per cent (1.9 per cent).

More Stories on : Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Poultry sector relieved over Centre's measures

Synechron expands KPO offerings
Whither transparency?
Revisit with open mind
Rupee weakens on month-end buying
New India seeks overseas reinsurance partner
Insurance union protests TN move
Indian Bank sells priority sector loans, raises Rs 550 cr
Securities decline
`Firmer rates won't hit credit disbursements'
Call rate closes at 6-6.2 pc
Banks raise FCNR (B) deposit rates
Central Bank hikes term deposit rates
`Interest rates are rising as there is no surplus liquidity'
Swarnkar is CMD, Syndicate Bank
SC Gupta is IBA Deputy Chairman

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line