Business Daily from THE HINDU group of publications
Friday, Aug 24, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Aug 24, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Forex Rupee lower in volatile trade
Mumbai, Aug 23 The forex market saw volatile movement on Thursday with the rupee ending about 13 paise lower against the previous close against the dollar. Domestic factors such as the stock market movement and rumours of instability at the Centre affected the currency. The rupee closed at 41.03/04 against Wednesday's level of 40.90. It opened at 40.79/80, about 10 paise higher. But as the equity market weakened, the rupee touched a low of 41.20 during day trade, before recovering towards the close. According to a forex dealer with a public sector bank, there was dollar buying by oil companies and oil refineries, which helped the rupee gain in the first half of trade. But talks of a likelihood of the Central government collapsing weakened the rupee. ``Today, the rupee was governed mainly by domestic factors and pure demand and supply conditions," the dealer said. In the forward premia market the six-month premium closed at 1.52 per cent (1.59 per cent) and the one-year at 1.61 per cent (1.62 per cent). - Our Bureau
More Stories on : Forex
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
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
|