• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Feb.23

The rupee weakened by around two paise to 44.23 against the dollar on Friday, from the previous close of 44.25. The currency moved in the range of 44.27-44.29 during the day. Dealers said there were reports of the Reserve Bank of India intervening in the forex market. "Public sector banks were aggressively buying dollars, which pushed the rupee down to 44.29," said a dealer at a private bank. According to dealers, some oil companies were also seen buying dollars as oil prices inched up to $61 per barrel. "Geo-political tensions in Iran have prompted the oil companies to build up their oil reserves," said the dealer. Dealers said the rupee was likely to trade in the range of 44.22-44.25 next week. The six-month forward-premia closed at 3.22 per cent (3.09 per cent) and the one-year closed at 3.02 per cent (2.93 per cent).

More Stories on : Forex

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

Stories in this Section
HDFC Bank signs MoU with Tata Pipes

Copyright © 2007, 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